Jamie Crawley is a CoinDesk news reporter based in London.
The largest stablecoins are all pegged to the U.S. dollar, while those linked to other currencies are comparatively small.
The central bank's licensing framework for dirham stablecoins could give them a boost, especially given the reputations of Dubai and Abu Dhabi as crypto hubs.Tether, the developer of the world's largest stablecoin, said it plans to introduce a token pegged to the United Arab Emirates' dirham in collaboration with. The major stablecoins are all pegged to the U.S. dollar, of which Tether's USDT is comfortably the largest with a market cap of over $117 billion.
Tokens pegged to other fiat currencies are minuscule by comparison. Tether's euro equivalent , for example, has a market cap of just $30 million.announced in June, according to an emailed announcement on Wednesday. That might give it a boost, especially given the reputations ofin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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