#BinanceAlphaAlert The stablecoin backed by the United Arab Emirates dirham is under development as part of a joint initiative between Phoenix Group PLC, Tether, and Green Acorn Investments. This digital asset aims to provide a stable alternative to the US dollar, aligning with the growing demand for the local currency in global trade (Tether to launch stablecoin pegged to UAE's dirham). The stablecoin will be backed by reserves from the government of the United Arab Emirates and will be launched in collaboration with Phoenix Group and Green Acorn Investment (Tether to launch stablecoin pegged to UAE's dirham). Its launch is pending approval from the Central Bank of the United Arab Emirates, expected in the coming months.