Tether announces the launch of a stablecoin pegged to the UAE Dirham

Tether, leader nel mercato delle stablecoin, ha unveiled i suoi piani per lanciare una nuova stablecoin ancorata al Dirham degli Emirati Arabi Uniti, in collaborazione con Phoenix Group e Green Acorn Investments, per potenziare commercio e rimesse.

Let’s see all the details below. 

Tether collaborates with Emirati partners to create a stablecoin backed by the Dirham

As anticipated, Tether, the main issuer of stablecoins globally, continues to expand its influence in the world of criptovalute with the announcement of the launch of a new stablecoin pegged to the United Arab Emirates dirham (AED).

This strategic move sees the collaboration of Tether with Phoenix Group, a technology conglomerate based in Abu Dhabi, and Green Acorn Investments.

All this with the aim of creating a digital representation of the dirham, fully backed by liquid reserves located in the Emirates.

The launch of this new stablecoin, named AEDT, marks an important expansion in the financial market of the United Arab Emirates. 

Tether has always maintained a leading position in the cryptocurrency sector thanks to its strict adherence to reserve standards, ensuring that each token is always backed by equivalent liquid assets. 

With the new AEDT, Tether offers users a stablecoin that faithfully mirrors the value of the dirham, providing stability and trust to investors and consumers looking to use a digital currency in the Middle Eastern market.

Paolo Ardoino, CEO di Tether, commented enthusiastically on the introduction of this new stablecoin, highlighting how the United Arab Emirates are rapidly emerging as a global economic hub. 

“We are happy to add the dirham to our range of stablecoins, as we believe that this new token will offer significant and versatile value to our users.”

This stablecoin will be a valuable option for anyone wishing to do business or send remittances in the region, while benefiting from the security and transparency offered by Tether.

Revolutionizing transactions in the United Arab Emirates

The new stablecoin anchored to the dirham promises to simplify international transactions and remittances, two crucial areas for the economy of the United Arab Emirates. 

With AEDT, Tether aims to reduce transaction fees and offer protection against currency fluctuations, making the flow of capital between international markets and those of the Emirates more efficient and secure. 

This innovation could have a significant impact on commercial and financial operations in the region, facilitating access to the advantages of the dirham without the complexities associated with currency conversion and transfer.

According to the press release from Tether, the stablecoin AEDT will be particularly useful for companies operating globally, providing them with a stable and reliable financial tool. 

The partnership with Phoenix Group has been crucial for launching this project. This is because Phoenix Group, with its vast experience in the technology sector, will bring a significant contribution to the development and distribution of the stablecoin.

Seyed Mohammad Alizadehfard, co-founder and CEO of Phoenix Group, expressed his satisfaction with the collaboration with Tether, stating that this partnership reflects Phoenix Group’s commitment to providing advanced financial solutions to its clients. 

“Our collaboration with Tether represents a step forward in bringing innovative and secure solutions to the market of the United Arab Emirates.”

Expansion of Tether on the Aptos blockchain

In parallel with the launch of the stablecoin AEDT, Tether continues to expand its presence in the blockchain sector, recently announcing the introduction of its USDT token on the layer-1 blockchain of Aptos.

This integration has been designed to improve access to global digital currency, reducing transaction costs and improving the speed of operations. 

Aptos, with its ability to handle fast and scalable transactions, represents an ideal platform for the implementation of USDT, allowing Tether to offer extremely low fees for large-scale operations.

With the expansion on the Aptos blockchain, Tether demonstrates its commitment to continuously improving the accessibility and efficiency of its stablecoins. 

The reduced transaction fees, which cost only a fraction of a cent, will make the use of USDT economically sustainable for a wide range of applications, from microtransactions to large-scale business operations.

In conclusion, the introduction of the stablecoin anchored to the dirham of the United Arab Emirates represents an important step forward for Tether and for the cryptocurrency market in general. 

This new stablecoin will not only offer stability and security to users, but will also help simplify international trade and remittances, further strengthening the position of the United Arab Emirates as a global economic hub.

With the expansion on the Aptos blockchain, Tether continues to consolidate its leadership in the sector, offering innovative solutions that meet the needs of a rapidly evolving market.