#AbuDhabiStablecoin

The red carpet for cryptocurrencies in the United Arab Emirates

AED Stablecoin is expected to face competition from Tether, the largest stablecoin issuer in the world by market capitalization. Tether's USDT leads the list of stablecoins, approaching a market capitalization of 120 billion dollars. 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.