DUBAI (Reuters) – The world's largest stablecoin, , stated on Wednesday it plans to offer a brand new stablecoin pegged to the United Arab Emirates (UAE) dirham because it faucets demand for the Gulf foreign money and seeks to supply alternate options to the U.S. greenback.
The stablecoin shall be launched in partnership with Abu Dhabi-listed cryptocurrency and blockchain conglomerate Phoenix Group, the businesses introduced throughout an occasion in Dubai.
- Advertisement -
The 2 corporations didn’t give a launch date for the product, however CEO Paolo Ardoino stated licensing by the UAE's central financial institution “would be the subsequent step and can take a number of months.”
