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Sonic Labs, ❄️ which previously planned to launch a US dollar-backed stablecoin, has decided to halt the program and instead focus on developing a new stablecoin backed by the UAE dirham (AED). 📌The change in approach could signal the growing importance and demand for digital assets pegged to regional currencies. Given the UAE’s fiscal and economic policies, the move could pave the way for broader adoption of cryptocurrencies in the Middle East and encourage investors to use the digital dirham.
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