Tether has announced its upcoming Dirham-pegged stablecoin on the TON Blockchain, as revealed by Alessandro Giori, Tether’s senior strategic partnership manager, at the Gateway 2024 event in Dubai.
“We’ve partnered with Phoenix Group and Green Acorn to bring a Dirham stablecoin by Tether to the TON Blockchain,” Giori said. “Follow us on social media for updates, and let’s make this happen.”
Rapid Adoption of USDT on TON Blockchain
During the event, Giori also highlighted the impressive adoption rate of USDT on the TON Blockchain, reaching one billion USDT within six months—the fastest uptake in Tether’s history. Tether’s adoption strategies are focused on regions with high inflation, like Turkey, Argentina, and Brazil, where stablecoins provide a reliable currency alternative.
With a global stablecoin market valued at $150 billion, USDT alone has captured over $115 billion. Industry forecasts predict stablecoins could expand to a $2.8 trillion market by 2028.
In a recent interview, Tether CEO Paolo Ardoino expressed confidence in USDT’s continued dominance, emphasizing the company’s strong focus on emerging markets and understanding of user needs amid increasing competition from other stablecoins.
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