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.
The American Bankers Association (ABA) has sharply criticized the Office of the Comptroller of the…
President Donald Trump and his family's cryptocy company, World Liberty Financial (WLFI), are facing a…
Aerodrome Finance and Velodrome, two of the leading decentralized exchanges (DEXs) on Base and Optimism,…
OpenAI's artificial intelligence models helped uncover two critical security vulnerabilities in PHP, the programming language…
SoFi Technologies has launched SoFi Earn (SOFIE), a new blockchain-based banking product that allows consumers…
Microsoft, Google's parent company Alphabet and Goldman Sachs have joined a growing list of major…