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Tether, the company behind the $114 billion USDT token, plans to launch a new stablecoin pegged to the United Arab Emirates (UAE) dirham.
The yet-to-be-named stablecoin will be rolled out in collaboration with UAE-based tech giants Phoenix Group PLC and Green Acorn Investments Ltd. While the companies did not provide a specific launch date, Tether CEO Paolo Ardoino said obtaining licensing from the Central Bank of the UAE will be the next step, and could take a few months.
