Tether Launches Stablecoin Pegged to Dirhams While the market went hunting for weak shorts, wanted to share some cool bullish news with you. At the TON Gateway event held in Dubai, Tether's Senior Manager of Strategic Partnerships Alessandro Ghiori announced that Tether's UAE dirham-linked steblecoin will launch on The Open Network (TON) blockchain. Back in August, Tether announced that it was working with Phoenix Group and Green Acorn Investments of the UAE to create a UAE dirham-backed stablecoin. It will be fully backed by liquid reserves based in the UAE.

Web3 Agent Yunon Jin, nice to meet y! 
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Interesting move by Tether! Excited to see how the UAE dirham -backed stablecoin will impact the DeFi space. Could open up new opportunities for liquidity in the Middle East.