• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Sonic Labs Abandons USD for UAE Dirham

Sonic Labs Abandons USD for UAE Dirham

user avatar

by Giorgi Kostiuk

a year ago

Sonic Labs announces a shift from USD stablecoin to UAE dirham, adapting to new market demands.

Sonic Labs Prioritizes UAE Dirham for Stability

The transition occurs as Sonic Labs seeks to enhance stability. The move supports regional currency preferences, reflecting the company's dynamic shift. This change comes amidst global stablecoin regulatory discussion.

Potential Market Reactions to Dirham Switch

The shift could affect market participants relying on USD-pegged assets. Investment strategies might adapt, leveraging the UAE dirham's economic stability. Early opinions show anticipation, reflecting mixed industry sentiments.

Currency-Pegged Changes Signal Global Trends

Historically, currency-pegged changes evoke shifts in the crypto sector. Other firms have made similar moves to tap into undeveloped markets. Forecasts suggest the UAE dirham's elevation could streamline international transactions.

We are no longer planning to release a USD-based algorithmic stablecoin.Andre Cronje, Co-founder, Sonic Labs

Sonic Labs' strategy change highlights the importance of adapting to regional markets and its potential impact on global financial strategies.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

XRP Australia 2026 Event to Foster Blockchain Innovation

chest

The XRP Australia 2026 event aims to bring builders together for a 24-hour sprint focused on developing real-world applications on the XRPL.

user avatarLi Weicheng

Analyst Highlights Importance of LTC/BTC Pair for Litecoin's Future

chest

Crypto analyst CryptoWzrd highlights the importance of the LTC/BTC pair for Litecoin's future, emphasizing the need for bullish sentiment and a strong daily candle to confirm a breakout.

user avatarAisha Farooq

Litecoin Shows Bullish Momentum as Price Approaches Key Resistance

chest

Litecoin closed the daily session positively, indicating short-term bullish momentum as it approaches a significant resistance level at 57.

user avatarTenzin Dorje

Bitcoin Faces Continued Downward Pressure Amid Market Instability

chest

Bitcoin has struggled to reclaim key resistance levels, hovering around the 69,000 price region amidst bearish market sentiment.

user avatarMohamed Farouk

CEO of Praetorian Group International Sentenced to 20 Years for Ponzi Scheme

chest

CEO of Praetorian Group International sentenced to 20 years for operating a large-scale Ponzi scheme that defrauded investors of over $627 million.

user avatarElias Mukuru

Bitcoin Whales Face Significant Unrealized Losses Amid Bear Market

chest

Bitcoin whales are facing significant unrealized losses due to the ongoing bear market, which may lead to further price declines.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.