{"id":22105,"date":"2024-08-22T14:00:38","date_gmt":"2024-08-22T14:00:38","guid":{"rendered":"https:\/\/buycrypt.com\/blog\/?p=22105"},"modified":"2026-07-14T15:50:09","modified_gmt":"2026-07-14T15:50:09","slug":"tether-announces-dirham-pegged-stablecoin-to-enhance-uae-financial-ecosystem","status":"publish","type":"post","link":"https:\/\/buycrypt.com\/blog\/en\/tether-announces-dirham-pegged-stablecoin-to-enhance-uae-financial-ecosystem\/","title":{"rendered":"Tether Announces Dirham-Pegged Stablecoin to Enhance UAE Financial Ecosystem"},"content":{"rendered":"<p><em><strong>Tether\u2019s Dirham-pegged stablecoin aims to offer a secure and efficient solution for UAE transactions, including cross-border payments and trading.<\/strong><\/em><\/p>\n<p>Stablecoin issuer Tether plans to launch a new stablecoin pegged to the United Arab Emirates Dirham (AED), marking an expansion in its portfolio of digital assets.<\/p>\n<p>Developed in partnership with UAE-based tech conglomerate Phoenix Group PLC and supported by Green Acorn Investments Ltd, this project will leverage the UAE\u2019s regulatory framework for Payment Token Services.<\/p>\n<h2>UAE Dirham-Pegged Stablecoin<\/h2>\n<p>According to the official press release shared with CryptoPotato, the Dirham-pegged stablecoin will be backed by liquid AED reserves, adhering to Tether\u2019s standards to ensure \u201cstability and confidence.\u201d<\/p>\n<p>This new product aims to improve international trade, streamline remittances, and offer a hedge against currency fluctuations by providing a digital representation of the AED.\u00a0The new Dirham-pegged stablecoin from Tether joins the company\u2019s roster of other fiat-backed tokens, such as USDT and EURT.<\/p>\n<p>Commenting on the potential impact, Tether CEO Paolo Ardoino said,<\/p>\n<p><em>\u201cThe 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. Tether\u2019s Dirham-pegged stablecoin is set to become an essential tool for businesses and individuals looking for a secure and efficient means of transacting in the United Arab Emirates Dirham whether for cross-border payments, trading, or simply diversifying one\u2019s digital asset.\u201d<\/em><\/p>\n<p>The stablecoin market is currently valued at $150 billion, with USDT representing over $115 billion of that total, as per the company\u2019s estimates. Furthermore, the industry forecasts suggest that this sector could expand to $2.8 trillion by 2028.<\/p>\n<h2>Crypto Adoption in UAE<\/h2>\n<p>Crypto adoption in the United Arab Emirates has surged since 2022, primarily due to the creation of the Virtual Asset Regulatory Authority (VARA), the first independent regulator of its kind. This supportive regulatory landscape has turned cities like Dubai and Abu Dhabi into leading centers for crypto and blockchain innovation.<\/p>\n<p>Recent figures from Bitget\u2019s Research revealed a surge in crypto use in the Middle East, with the average number of daily traders surpassing 500,000 in February 2024. The UAE is the leader in per capita adoption, reaching a peak of 106,111 daily active users in 2024 and witnessing a 68% rise in daily traders compared to the previous year.<\/p>\n<p>Source: www.cryptopotato.com<\/p>\n<p><!-- related-seo --><\/p>\n<div class=\"related-seo\">\n<h3>Related articles<\/h3>\n<ul>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/tether-usdt-its-place-in-the-cryptocurrency-world\/\">Tether (USDT): Its Place in the Cryptocurrency World<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/crypto-market-news-2\/\">Crypto Market News<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/tether-the-genius-act-and-global-priorities-the-crypto-market-is-evolving\/\">Tether, the GENIUS Act, and Global Priorities: The Crypto Market is Evolving<\/a><\/li>\n<\/ul>\n<\/div>\n<p><!-- \/related-seo --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether plans to issue a stablecoin pegged to the UAE dirham to enhance the financial ecosystem and cross-border payments.<\/p>\n","protected":false},"author":1,"featured_media":22115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"Tether Announces Dirham-Pegged Stablecoin to Boost UAE Finance","rank_math_description":"Tether launches a stablecoin pegged to the UAE dirham for secure and efficient transactions. Read about this new financial innovation in the UAE.","rank_math_focus_keyword":"Tether stablecoin dirham","_forpost_external_id":"","_seorun_article_id":"","footnotes":""},"categories":[369],"tags":[9305,1525,2131,4929,9308],"class_list":["post-22105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-dirham","tag-finance","tag-stablecoin","tag-tether","tag-uae","resize-featured-image"],"lang":"en","translations":{"en":22105,"uk":22106,"ru":22107},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/22105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/comments?post=22105"}],"version-history":[{"count":3,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/22105\/revisions"}],"predecessor-version":[{"id":47553,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/22105\/revisions\/47553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media\/22115"}],"wp:attachment":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media?parent=22105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/categories?post=22105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/tags?post=22105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}