The world's leading stablecoin issuer Tether has announced the launch of a stablecoin pegged to the United Arab Emirates dirham, which will be released on The Open Network (TON) blockchain.
This new development follows the UAE's decision to approve a licensing framework for stablecoins. The new regulations will clarify the rules regarding the issuance, licensing, and supervision of dirham-backed payment tokens.
This development marks a significant step for Tether as it expands its range of stablecoins to include a tie to the national currency of the UAE.
