Yigit Taha OZTURK 
Tether has announced a partnership with The Open Network (TON) to launch a new stablecoin pegged to the United Arab Emirates dirham (AED). This new stablecoin will be abbreviated as AEDT and will provide investors with more options as an alternative to other stablecoins pegged to currencies like the dollar.
This move aims to make cryptocurrencies more accessible, especially for investors in the Middle East and North Africa (MENA) region. Tether’s CEO, Paolo Ardoino, stated that the launch of the dirham-pegged stablecoin will allow users in the region to more easily access digital assets using their local currency. Additionally, the development of this stablecoin on the TON blockchain will offer significant advantages in terms of transaction speeds and security.
Might interest you: Could a Trump Victory Energize the Crypto Markets?
Steve Yun, the President of the TON Foundation, expressed that this partnership has the potential to attract more users to the TON network and could enhance TON’s strength within the global crypto ecosystem.
UAE Approves Licensing System for Stablecoins
The United Arab Emirates (UAE) has approved the establishment of an official licensing system for stablecoins. This new regulation aims to strengthen the regulatory framework in the cryptocurrency sector and increase the use of digital assets in the local economy.
The UAE Central Bank announced the launch of a new licensing process to clarify the legal status of stablecoins and oversee activities in this area. This system will help ensure that companies issuing stablecoins comply with certain standards, thereby protecting investors.
Regulatory authorities plan to implement various measures to mitigate the potential risks of stablecoins and enhance transparency in the sector. Additionally, this licensing system will support the UAE’s goal of becoming a global hub for cryptocurrency and blockchain technologies.
In recent years, the UAE has taken significant steps in the blockchain and cryptocurrency space, working to strengthen its leadership position in the region. This new licensing system will provide greater assurance for stablecoin projects in the country, creating an attractive environment for both local and international investors.
Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.