Tether to provide stablecoin pegged to UAE's dirham

Tether News

Tether to provide stablecoin pegged to UAE's dirham
Phoenix GroupUnited Arab EmiratesStablecoin
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The world's largest stablecoin, Tether, said on Wednesday it plans to provide a new stablecoin pegged to the United Arab Emirates (UAE) dirham as it taps...

DUBAI - The world's largest stablecoin, Tether , said on Wednesday it plans to provide a new stablecoin pegged to the United Arab Emirates dirham as it taps demand for the Gulf currency and seeks to offer alternatives to the U.S. dollar.

The two firms did not provide a date for the product launch but CEO Paolo Ardoino said licensing by the Central Bank of the UAE "will be the next step and will take a few months".Morocco's king has pardoned nearly 5,000 people convicted or wanted on charges linked to illegal cannabis cultivation, the justice ministry has said.

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