Tether, a stablecoin issuer, has revealed plans to develop a new stablecoin pegged to the United Arab Emirates dirham (AED). "The UAE is an important global economic hub and the new stablecoin is designed to meet the needs of businesses and individuals seeking safe and efficient transactions in UAE dirhams, including cross-border transfers, trading and asset diversification," said Paolo Ardoino, chief executive of Tether.