Tether Announces It Will Issue UAE Dirham-Linked Stablecoin on the TON Chain

On November 1st, Alessandro Giori, Senior Strategic Partnerships Manager at Tether, announced at the TON Gateway event in Dubai that it will be launching the UAE Dirham stablecoin on the TON blockchain. The stablecoin project is being developed by Tether in partnership with UAE-based Phoenix Group and Green Acorn Investments, and will be fully backed by local UAE liquid assets. Additionally, Giori announced that USDT on the TON chain will be connected to the digital asset platform Fireblocks.