Tether is taking a huge step into the UAE market with the launch of a dirham-backed stablecoin on The Open Network (TON) blockchain, setting the stage for greater blockchain adoption in the region. Here’s a deep dive into this major announcement and what it means for the crypto community:

📌 Key Highlights:

💱 Dirham-Pegged Stablecoin: Tether's new stablecoin, pegged to the UAE dirham (AED), will be backed by liquid UAE-based reserves, offering a stable digital representation of AED.

🤝 Strategic Partnerships: Tether is collaborating with Phoenix Group and Green Acorn Investments in the UAE to ensure that each dirham-pegged token is fully backed and stable.

🛡️ Stability & Confidence: Tether confirmed that the stablecoin will be “tied to the value of the AED,” providing a secure option for digital transactions in the region.

📊 USDT Growth on TON Blockchain:

🚀 Fastest Blockchain Adoption: According to Alessandro Giori, Tether’s senior strategic partnership manager, TON became the fastest blockchain to reach 1 billion USDT, hitting the milestone within just six months.

📈 Rapid Growth Metrics:

💸 160,000 Daily Transactions on TON for USDT.

📊 7.6 Million Wallets actively using USDT on TON.

🔗 Over 100 Platforms now integrated with USDT on the TON blockchain, showing strong network adoption.

🔥 USDT Expands with Fireblocks:

USDT on TON will now be available on the digital asset platform Fireblocks, making it accessible to a broader ecosystem of companies and users.

🗞️ Background Context:

🇦🇪 Regulatory Green Light: In June, UAE regulators introduced a licensing framework for stablecoins, marking an important regulatory development that brings clarity to stablecoin issuance and oversight.

🏛️ AED Stablecoin Approval: Recently, another AED-backed stablecoin received in-principle approval from the UAE's central bank, underscoring the nation’s readiness to embrace regulated digital assets.

🌍 Why This Matters:

Tether’s move signifies a growing acceptance of blockchain technology in the UAE and a step toward fostering a regulated and stable digital economy. With the dirham-backed stablecoin, Tether aims to offer a secure, transparent, and fully backed digital currency that supports financial innovation and stability.

#16thBTCWhitePaperAnniv #CryptoAMA #USADPSurges #CryptoPreUSElection