Tether plans to launch a UAE dirham-pegged stablecoin

The Block2026/08/18 23:15

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Tether plans to launch a new stablecoin pegged to the United Arab Emirates dirham in collaboration with Phoenix Group and Green Acorn Investments.

According to a press release, the token will "lead the way in seeking licensing under the UAE Central Bank's recently announced Payment Token Services Regulation."

According to Tether, the dirham-pegged stablecoin will provide users with a more cost-effective and transparent way of accessing the currency and a hedge against currency fluctuations.

"We're pleased to announce this initiative to develop Tether's Dirham-pegged stablecoin, adding to our range of stablecoin options," Tether CEO Paolo Ardoino said.

"The United Arab Emirates is becoming a significant global economic hub, and we believe our users will find our Dirham-pegged token to be a valuable and versatile addition," he added, claiming: "Tether's Dirham-pegged stablecoin is set to become an essential tool for businesses and individuals looking for a secure and efficient means of transacting in the United Arab Emirates Dirham whether for cross-border payments, trading or comply diversifying one's digital assets."

Tether's dirham-pegged stablecoin joins the company's stable of other fiat-pegged tokens, such as USDT and EURT. Tether has long been and remains the largest issuer of stablecoins by market capitalization.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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华尔街见闻•2026/11/02 20:01