Explore Companies BySectors & Categories
Explore Companies ByUse Cases
Explore Companies ByProducts & Services
Explore Companies ByRankings & Reviews
Featured NewsCompaniesMarketsCryptoTechRegulatoryCommentaryUKUSWorldMore

    Latest Wires

      Daily Newsletter

      LF Daily News

      Daily industry focused newsletter giving you an overview for the financial & finTech industry.

      See All Newsletters
      By clicking "Sign Up" you are agreeing to our Terms of Service and Privacy Policy

      Tether Announces Plans for UAE Dirham-Pegged Stablecoin

      Published: just now

      tether logo

      Tether has revealed plans to create a stablecoin pegged to the United Arab Emirates Dirham (AED). The project is a collaboration with UAE tech company Phoenix Group PLC and Green Acorn Investments Ltd.

       

      The new stablecoin will join Tether's existing lineup, which includes USDt, EURT, CNHT, MXNT, XAUT, and aUSDT. Tether intends to seek licensing under the UAE Central Bank's Payment Token Services Regulation.

      According to Tether, the Dirham-pegged token will be backed by liquid UAE-based reserves, with each token representing the value of one AED.

       

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

       

      The global stablecoin market is currently valued at $150 billion. Cryptocurrency usage in the UAE has increased following the establishment of the Virtual Asset Regulatory Authority in 2022.

       

      Seyedmohammad Alizadehfard, Co-Founder and Group CEO of Phoenix Group, commented: "We are thrilled to be working with Tether on bringing a UAE Dirham-pegged stablecoin to the market and are confident of its potential in transforming the digital economy for users across the region and beyond. This collaboration with Tether not only underscores our commitment to innovation and excellence but also reflects our dedication to providing financial solutions that meet the needs of our customers."

       

      Tether has not announced a launch date for the new stablecoin. 

      We're the largest marketplace to connect with brokers, Fintech companies & digital asset firms. Want to partner? Let's get in touch.

      This content may have been written by a third party. LiquidityFinder makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplies by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
      Comments
      Most Recent
      Written By
      profile image formember on LiquidityFinder
      Founder & CEO, LiquidityFinder

      Founder of LiquidityFinder. 25+ years in Financial Markets technology. Now building the world's financial markets social network / marketplace.

      Daily Newsletter

      LF Daily News

      Daily industry focused newsletter giving you an overview for the financial & finTech industry.

      See All Newsletters
      By clicking "Sign Up" you are agreeing to our Terms of Service and Privacy Policy
      RSS Feeds

      Create a custom RSS Feed

      Select the categories and companies you wish to follow directly to your person rss feed.

      Create Custom RSS Feed

      Related Categories:

      Related Tags:

      #Tether#UAEDirham#Stablecoin#PhoenixGroup#UnitedArabEmirates#DigitalAssets#CryptoCurrency

      Related Articles:

      Find The Right Partners for
      Your Trading Business

      Sign up and join over 5,000 professional members who receive personalized news alerts, curated professional connections, and more for free!

      Create Your FREE Account
      Get access to latest news, updates, real-time data, brokerage and trading firm insights and customized information feeds.

      Sterling steadies after political uncertainty rattled gilt markets, while EUR/USD and EUR/GBP approach key technical levels ahead of today's European session.

      just now

      GBP/AUD remains trapped in a well-defined bearish trend on both the weekly and daily timeframes.

      just now

      Discover the key drivers, technical levels, and central bank expectations shaping the EUR/USD trend as the ECB prepares to hold rates and markets watch for a potential breakout.

      just now

      Sydney-based multi-asset broker ACY Securities has introduced PAXGUSD, a new CFD instrument that allows clients to trade tokenised gold against the US Dollar 24 hours a day, seven days a week. The instrument is available across MetaTrader 4, MetaTrader 5, and the ACY Trading Platform.

      just now

      Binance has lowered its VIP 3 Wallet Assets threshold from $3 million to $1 million and will now count OTC Spot Trading Volume at a 4x multiplier toward VIP qualification, removing the previous VIP 4 cap and allowing eligible users to progress through the full tier framework up to VIP 9.

      just now

      Retail futures trading leader NinjaTrader Group has appointed Mark Omens as Senior Vice President, Commercial Strategy, bringing a 25-year veteran of derivatives marketplace CME Group into a newly created role focused on exchange partnerships and enterprise growth.

      just now

      Gold Price Action Forecast: Will XAU/USD Drop to $3930? Meta Description: Read our Gold price action forecast to see if XAU/USD will drop to $3930.

      just now

      BitDelta Securities Financial Services LLC (“BitDelta Securities”) today announced that it has received full regulatory approval from the Capital Market Authority (“CMA”) of the United Arab Emirates under the Category 5 — Arrangement and Advice license framework (License No. 20200000439). The approval follows the firm's receipt of In-Principal Approval earlier this year and represents the successful conclusion of the CMA's full licensing process, including the satisfaction of capital requirements, governance appointments, and operational setup.

      just now

      Crypto.com has received a $400 million strategic investment from Citadel Securities, valuing the firm at $20 billion. It marks the first institutional funding round in the company's history, aimed at accelerating its expansion into tokenised securities, derivatives and other asset classes.

      just now

      WTI’s pullback into $79–82 is the first major test of the bullish Elliott Wave count, with buyers targeting a renewed break above $85.

      just now
      Feed