Stablecoin issuer Tether has revealed it plans to develop a new stablecoin pegged to the United Arab Emirates Dirham (AED).
Calling the UAE a “significant global economic hub,” Tether CEO Paolo Ardoino said in a statement shared with Decrypt that the new stablecoin is aimed at “businesses and individuals looking for a secure and efficient means of transacting in the United Arab Emirates Dirham,” including cross-border payments, trading and diversification of assets.
In its press release, the firm outlined plans to collaborate on the as-yet-unnamed stablecoin’s launch with UAE-based tech conglomerate Phoenix Group PLC and Green Acorn Investments Ltd. The proposed Dirham-pegged token will join Tether’s existing lineup of stablecoins, which includes those pegged to the US Dollar, Euro, Chinese Yuan, and Mexican Peso.
U.S. Senator Chris Murphy (D-Conn.) is calling for legislation to ban prediction markets that allow traders to bet…
The U.S. Internal Revenue Service (IRS) has proposed a new rule that would allow cryptocy brokers to deliver…
Global fintech powerhouse Revolut has filed an application for a U.S. banking license, a move that would allow…
A man accused of stealing tens of millions of dollars in cryptocy from U.S. government…
Intercontinental Exchange (ICE) — the parent company of the New York Stock Exchange — has taken a strategic…
A new study from the Bitcoin Policy Institute (BPI) found that leading artificial intelligence models overwhelmingly favor Bitcoin…