Abu Dhabi is making waves in digital finance with the upcoming launch of a UAE dirham-pegged stablecoin. Tether, the world's largest stablecoin issuer, is partnering with Abu Dhabi-listed Phoenix Group to introduce this AED-backed token, fully supported by UAE-based reserves. The initiative aligns with the UAE Central Bank's Payment Token Services Regulation, ensuring compliance and stability. Set to debut by January 2025, the stablecoin aims to streamline cross-border payments, reduce transaction fees, and bolster the UAE's position as a global crypto hub. This move signifies a significant step in integrating traditional finance with blockchain technology. #AbuDhabiStablecoin (UAE Firms Announce Dirham-Pegged Crypto: Revolutionising Digital Finance – JobX News, Tether to Develop UAE Dirham-Pegged Stablecoin - Tether.io, Tether Announces Development of UAE Dirham-Pegged Stablecoin - TokenTimes)