Tether (USDT) Expands Its Reach on the TON Network and the Middle East

Stablecoin giant Tether Holdings Ltd is expanding its reach on the TON Network and the Middle East. As disclosed recently at the TON Gateway event in Dubai

Stablecoin issuer Tether is expanding its presence on the TON Network and in the Middle East.

At the recent TON Gateway event in Dubai, Tether’s Senior Strategic Partnership Manager Alessandro Giori announced that the Dirham-backed USDT will launch on the network.

Both parties began their partnership earlier this year. As reported by Coingape in April, Tether integrated USDT with TON.

Since then, the stablecoin has reportedly experienced significant growth on the network. According to Giori, USDT grew fastest on TON when it crossed the 1 billion circulation milestone.

Tether now aims to achieve similar growth with its Dirham stablecoin.

The move comes as the United Arab Emirates strengthens its presence in the Web3 sector. With several businesses relocating to the region, Tether seeks to maintain its leadership in serving companies operating there.

This expansion is particularly crucial in light of Tether’s challenges in the European Union regarding MiCA regulation compliance.

The above is the detailed content of Tether (USDT) Expands Its Reach on the TON Network and the Middle East. For more information, please follow other related articles on the PHP Chinese website!