{"id":135962,"date":"2024-08-21T19:00:39","date_gmt":"2024-08-21T16:00:39","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135962"},"modified":"2024-08-21T18:17:15","modified_gmt":"2024-08-21T15:17:15","slug":"tether-teases-new-stablecoin-initiative-in-uae-market","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/tether-teases-new-stablecoin-initiative-in-uae-market\/","title":{"rendered":"Tether Teases New Stablecoin Initiative in UAE Market"},"content":{"rendered":"<p>The <strong><a href=\"https:\/\/www.reuters.com\/technology\/tether-provide-stablecoin-pegged-uaes-dirham-2024-08-21\/\" rel=\"nofollow\">initiative<\/a> <\/strong>is in partnership with UAE firms Phoenix Group and Green Acorn Investments. The goal is to create a stablecoin backed by UAE reserves, offering a reliable digital version of the dirham.<\/p>\n<p>This move is part of Tether\u2019s broader expansion into the UAE financial market, providing a cost-effective way for users to engage with the AED. The new stablecoin is expected to facilitate smoother international trade and remittances while reducing fees and protecting against currency fluctuations.<\/p>\n<p>Paolo Ardoino, Tether\u2019s CEO, expressed enthusiasm for adding this dirham-backed option to the company\u2019s stablecoin lineup, highlighting the UAE\u2019s growing role as a global economic center.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-135930\" href=\"\" title=\"\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\"><\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>The collaboration with Phoenix Group underscores Tether\u2019s commitment to delivering practical financial tools for businesses and individuals. The rising adoption of cryptocurrencies in the UAE, driven by regulatory developments, further supports this venture.<\/p>\n<p>In another recent move, Tether expanded its <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/tether\/\">USDT<\/a> <\/strong>stablecoin to the Aptos blockchain. This integration is aimed at reducing transaction costs on the platform, making USDT transactions more affordable for a wide range of users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether, the leading stablecoin issuer, is set to launch a new digital currency tied to the UAE dirham (AED).<\/p>\n","protected":false},"author":3,"featured_media":31624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[71],"coin_category":[],"class_list":["post-135962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-stablecoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tether Teases New Stablecoin Initiative in UAE Market<\/title>\n<meta name=\"description\" content=\"Tether, 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