Phoenix Group and Tether plan to launch a UAE dirham-pegged stablecoin by January 2025.

Abu Dhabi Securities Exchange-listed firm Phoenix Group and Tether announce plans to launch a stablecoin pegged to the UAE dirham. The dirham-pegged stablecoin aims to capitalize on the UAE currency's stability, targeting the global $150B stablecoins market projected to reach $2.8T by 2028. Built on a blockchain platform, the stablecoin aims to transform the digital economy for users across the region and beyond, with a planned launch by January 2025.

August 21, 2024
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