#AbuDhabiStablecoin Abu Dhabi Stablecoin.

Abu Dhabi takes a significant step in the adoption of digital assets with the launch of a stablecoin backed by the dirham (AED).

Tether, a leader in the stablecoin market, announced its intention to introduce this new digital currency, aiming to diversify options against the US dollar and meet the growing demand in the Gulf region.

The project is in collaboration with Phoenix Group and Green Acorn Investment, and is pending approval from the Central Bank of the United Arab Emirates (CBUAE).

The stablecoin will be fully backed by liquid reserves in AED, maintained in segregated accounts within local banks.