Tether is preparing to launch a new stablecoin pegged to the UAE dirham in partnership with Phoenix Group PLC and Green Acorn Investments. The coin aims to facilitate international trade and exchange.
Fully backed by reserves in the United Arab Emirates, the stablecoin will provide users with a cost-effective way to access the benefits of the UAE dirham (AED). Tether hopes that the launch of the coin will increase liquidity and trust in the cryptocurrency market, while also helping to empower consumers to use digital currencies.
source: Latest Crypto News