#AbuDhabiStablecoin The red carpet of cryptocurrencies in the United Arab Emirates
AED Stablecoin is expected to face competition from Tether, the issuer of the world's largest stablecoin by market capitalization, Tether's USDT leads the list of stablecoins, nearing a market capitalization of $120 billion. Source: CoinGecko
Tether recently stated that it has partnered with local firms Phoenix Group and Green Acorn Investments to launch its own stablecoin pegged to the dirham.