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    Tether Announces Plans to Launch New Stablecoin Pegged to UAE Dirham

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    Issuer of the stablecoin Tether (USDT) announces new plans to launch a new digital asset pegged to the dirham (AED), the currency of the United Arab Emirates (UAE).

    In a new press release, the company behind USDT announced: He says It will work closely with the country’s central bank as well as major tech companies to add dirham-pegged crypto assets to its product suite.

    “The Tether stablecoin pegged to the dirham will provide users with a seamless and cost-effective way to access the benefits of the UAE dirham while leveraging the transparency and efficiency of blockchain technology.

    “These digital assets will simplify international trade and money transfers, reduce transaction fees, and provide a hedge against currency fluctuations, thus playing a crucial role in the financial system of the UAE and beyond.”

    Tether’s dirham-pegged crypto assets will join the company’s arsenal of digital assets, including those pegged to the euro (Eurot), Chinese Yuan (Industrial support), Mexican peso (MXNT), and gold (Hot).

    As Tether CEO Paolo Ardoino stated,

    “The UAE Dirham-pegged stablecoin Tether is expected to become an essential tool for businesses and individuals looking for a secure and efficient way to transact in AED, whether for cross-border payments, trading, or simply diversifying into digital assets.”

    Earlier this month, Tether Advertise USDT Launched on Layer 1 Smart Contract Platform Aptos (I refused).

    Data on the chain recently open The company minted $33 billion USDT on Tron (TRX) and Ethereum (Ethereum) blockchains over the past year.

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