USDT: a dollar stablecoin on multiple networks
USDT (Tether) is a stablecoin issued by Tether Limited that aims to maintain a value of approximately 1 USD; the market price may deviate. Issuer, network, and blocking risks, as well as jurisdictional restrictions, are possible. It operates on multiple blockchain networks. TRC-20 (Tron network) and ERC-20 (Ethereum network) are the most common. TRC-20 has lower network fees, ERC-20 is more widely supported by exchanges. The networks are incompatible: the recipient's address must match the sender's network. In the UAE, USDT is actively used for international settlements and storing funds outside the banking system.
AED/USDT pair: stability on stability
Since AED is pegged to the dollar at a fixed rate, and USDT is also pegged to the dollar at a 1:1 ratio, the currency component of the pair is relatively stable. However, USDT is not the same as a dollar: the final amount depends on the market price of USDT, the spread, the commission, and the chosen network.
Exchanging dirhams for USDT via ATM24
ATM24 operates in the UAE and specializes in exchange and transfers in this region. AED to USDT exchange is arranged through a request in WhatsApp or Telegram. The preliminary rate and terms are confirmed by the manager before payment after verifying the amount, payment method, availability of the direction, and applicable KYC/AML, sanctions, and jurisdictional restrictions. When receiving USDT, it is important to clarify with the ATM24 manager in advance which network is supported - TRC-20 or ERC-20 - and provide the wallet address for the correct network.
The scope of identification (KYC) and source of funds verification (AML) is determined by applicable law and the transaction amount; specific requirements are communicated by the manager before payment.
Transactions with crypto assets involve regulatory risks; their permissibility depends on the jurisdictions of the parties and may change. Before the transaction, independently assess applicable restrictions; the manager confirms the possibility and terms of a specific transaction before payment.