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Tether Launches New Stablecoin That Won’t Single-Handedly Cause Another Global Economic Collapse Anytime Soon With UAE Partners

Crypto NewsInstitutional InvestorsRegulation/Negotiation 1 Kevin Nelson August 22, 2024

An illustration of a globe divided into two halves by the UAE border line with one half filled in red to represent instability while the other is green representing stability as Tether's new stablecoin pegged to AED flows from left to right through pipes connecting both sides, symbolizing economic balance and growth amidst currency fluctuations.

Crypto bros are at it again! They’re always touting the next big thing in cryptocurrency – stablecoins pegged to whatever fiat currency is hot right now (in this case, the UAE dirham). Because what’s more exciting than a digital representation of an already-existing currency? And who wouldn’t want to reduce transaction fees and hedge against currency fluctuations when you can just use good old-fashioned cash or credit cards like normal people.

Source: cointelegraph

Tether plans to launch dirham stablecoin with UAE partners
https://cointelegraph.com/news/tether-aed-stablecoin-uae-partners-launch
Tether, the largest stablecoin provider in the digital asset industry, has announced plans to launch a new stablecoin pegged to the United Arab Emirates dirham (AED). According to the press release shared with Cointelegraph, the new stablecoin will launch in collaboration with UAE-based Phoenix Group and Green Acorn Investments. The collaboration aims to establish a digital representation of the dirham currency, which is “fully backed by liquid UAE-based reserves.” Tether’s […]

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Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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