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Tether Launches Dirham-Backed Stablecoin with UAE Partners
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Phoenix Group PLC and Green Acorn Investments Ltd., two UAE-based companies, have partnered with Tether to create a new Stablecoin linked to the Dirham. This new token, fully backed by UAE reserves and adhering to Tether's reserve standards, will provide a stable digital representation of the local currency (AED).
The Dirham-backed stablecoin underscores Tether's support for the expanding crypto landscape in the UAE. Tether’s CEO, Paolo Ardoino, highlighted the importance of this development, noting that the UAE is becoming a “significant global economic hub".
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The Dirham-backed stablecoin underscores Tether's support for the expanding crypto landscape in the UAE. Tether’s CEO, Paolo Ardoino, highlighted the importance of this development, noting that the UAE is becoming a “significant global economic hub".
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 86.81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
#tradingnews #trademarkets
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