# Dirham-Pegged Stablecoin

*Tether Launches UAE Dirham-Pegged Stablecoin*

By [aundingoya.eth](https://paragraph.com/@aundingoya.eth) · 2024-08-23

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Tether is introducing a new stablecoin tied to the UAE Dirham (AEDT), in collaboration with Phoenix Group PLC and Green Acorn Investments Ltd.

This digital Dirham, fully backed by UAE reserves, aims to streamline international trade, cut transaction fees, and offer stability amid currency fluctuations. With the UAE's growing influence in the crypto world and supportive regulations, this launch solidifies the region's blockchain leadership.

Tether's CEO Paolo Ardoino highlights that this stablecoin will be a major asset for businesses and individuals dealing in AED. The Dirham-pegged coin will join Tether’s existing lineup, which includes USDT, EURT, and others. Meanwhile, Dubai has officially recognized crypto for salary payments, signaling a vibrant future for UAE's crypto scene.

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*Originally published on [aundingoya.eth](https://paragraph.com/@aundingoya.eth/dirham-pegged-stablecoin)*