PANews reported on November 1 that according to Cointelegraph, stablecoin issuer Tether announced that its stablecoin pegged to the United Arab Emirates Dirham (AED) will be launched on The Open Network (TON) blockchain. At the TON Gateway event held in Dubai, Alessandro Giori, senior strategic partnership manager of Tether, said that TON is the fastest blockchain to reach $1 billion in USDT since its launch, with an average daily transaction volume of 160,000 transactions, 7.6 million USDT wallets, and more than 100 crypto platforms have integrated USDT on TON. In addition, USDT on the TON blockchain will support the Fireblocks platform, further expanding the user base of the ecosystem. This move follows the UAE's approval of the regulatory licensing framework for the issuance of stablecoins, and the UAE's fiat-pegged stablecoin ecosystem is gradually taking shape.