#ArizonaBTCReserve

Tether announced the launch of a new stablecoin pegged to the UAE Dirham (AED), in collaboration with Emirati companies such as Phoenix Group and Green Acorn. The coin aims to enhance local use of digital currencies and provide an alternative to the dollar in digital transactions within the UAE. The currency will be backed by real Dirham reserves, which enhances its reliability and stability. This project is part of Abu Dhabi's vision to become a global hub for financial innovation and blockchain technologies, and the coin is expected to be launched after the approval of the UAE Central Bank. This step marks a significant advancement towards the adoption of digital currencies in the Gulf.