Tether to Launch Dirham-Pegged Stablecoin on TON Blockchain

This time, Tether is working to launch a stablecoin tied to the United Arab Emirates dirham (AED) .

The new dirham-pegged stablecoin will be built on The Open Network (TON), a blockchain known for its speed and efficiency. Let’s discover more about this important news from Tether.

New Dirham-Pegged Stablecoin Brings Digital Currency to UAE

Alessandro Giori, Tether’s senior strategic partnership manager, announced the project during the TON Gateway event in Dubai, calling TON the “fastest blockchain” to reach 1 billion USDT transactions since its start. For Tether, this partnership with TON could help make the dirham-backed stablecoin a reliable. Its an efficient choice for digital transactions in the UAE and beyond.

Earlier this year, Tether announced its work with the UAE-based Phoenix Group and Green Acorn Investments to bring the dirham-backed stablecoin to life. The goal is to create a digital version of the UAE dirham that will keep its value steady, fully backed by liquid reserves held in the UAE. This means every dirham-pegged token will be directly linked to the value of the AED, ensuring that users can trust it to hold its worth.

#Tether has announced the launch of a dirham-pegged #stablecoin on the #TON blockchain 🇦🇪 #TheGateway2024 pic.twitter.com/EdvFuKgLVZ

— Tanzeel Akhtar (@Tanzeel_Akhtar) November 1, 2024

This new stablecoin could be a game-changer, especially in a time when many are interested in the security and speed of digital currencies. Tether’s choice to work with TON, a blockchain known for its rapid transaction speeds, means users will be able to make secure transactions faster than ever.

More About TON

The TON Studio is officially launching. And, it’s set to become the go-to hub for $TON Ecosystem developers eager to transform their ideas into working dApps. This innovative platform will offer top-tier toolkits and pre-built solutions. This will ensure that developers have everything they need at their fingertips.

Listen up, @thetonstudio is officially launching!
Get ready for the new go-to hub for $TON Ecosystem developers looking to turn their ideas into functional dApps.

TON Studio will provide:
🔎 top-tier and comprehensive toolkits
📚 pre-built solutions
👏 hands-on support
🛹 a… pic.twitter.com/9MYdMPQm05

— TON 💎 (@ton_blockchain) November 1, 2024

The TON Studio makes it easier than ever for creators to dive into the world of blockchain technology. Additionally, TON Studio manages the tapps center. It is a powerful resource that connects developers with Telegram users.

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