Tether plans to introduce a stable coin coupled to the dirham

• Tether will bring a stable coin coupled to the dirham in cooperation with the Phoenix Group.
• to USDT, EURT and other stable coins issued by Tether will join the new stable coin.

Tether plans to add a new stable coin to his range of stable coins that is linked to the Dirham of the United Arab Emirates, according to a Announcement on August 21.

According to the details of the planned introduction, Tether will work with Phoenix Group PLC, a billion-dollar technology gunner based in the United Arab Emirates. Green Acorn Investments Ltd. be involved.

"We are very happy to bring a stable coin coupled to VAE-Dirham onto the market and are convinced of their potential to change the digital economy for users in the entire region and beyond," said Seyedmadad Alizadehfard, co-founder and Group CEO of the Phoenix Group.

Tether's range of stablecoins

After the introduction, the stable coin coupled to the dirham will join a series of tether tokens, which also includes the world's largest stablecoin USDT. Other products are the EURT coupled to the euro, the CNHT coupled to the Chinese Yuan, the Mxnt and Tether Gold (Xaut) coupled to the Mexican peso.

Tether strives for an official approval for the fiat-supported cryptocurrency and has submitted the application to the Central Bank of the United Arab Emirates.

"The United Arab Emirates develop into an important global economic center and we believe that our users will see our token coupled to the dirham as valuable and versatile addition," remarked Tether CEO Paolo Ardoinin in a explanation.

Tether not only launched a range of fiat-supported digital assets, but also aggressively expanded its flagship product.

USDT is currently the leading stable coin with a market capitalization of over $ 116 billion and can be used natively on the most important blockchains, including Ethereum and Tron.

The latest blockchain network that experiences a USDT extension is aptos.