The billionaire group Phoenix Group PLC, listed on the Abu Dhabi Securities Market (ADX), announced its collaboration with Tether, the largest company in the digital asset industry, to launch a digital currency pegged to the UAE Dirham. This collaboration between Phoenix Group and Tether is supported by Green Acorn Investments Ltd.

The stablecoin will be built on an advanced blockchain platform, ensuring unparalleled security, transparency, and efficiency. The stablecoin will also provide a safe haven for assets in a market that can often be unpredictable, backed by the financial strength and technical expertise of Phoenix and Tether, governed by stringent regulatory compliance procedures.