#USDT issuer#Tetherplans to launch a new stablecoin pegged to the United Arab Emirates dirham (AED) in collaboration with Phoenix Group and Green Acorn.
This new asset will be a digital representation of the UAE dirham, pegged to it at a 1:1 ratio and backed by reserves held in the UAE.
The introduction of this dirham-pegged stablecoin aims to provide users with seamless access to AED while leveraging the transparency and efficiency of blockchain technology. The initiative is expected to facilitate the growth of international trade and remittances, reduce transaction fees, and provide a hedge against currency fluctuations.
Once launched, the stablecoin will join Tether's existing portfolio of fiat tokens, including USDT, EURT, CNHT, MXNT, XAUT, and aUSDT.
