Tether is a USD-backed stablecoin that is pegged to the price of the US dollar. USDT is the most popular stablecoin in the world and is issued by the Hong Kong-based company Tether Limited. Its shareholders include some of the most influential figures in the cryptocurrency industry.
Tether was the first stablecoin on the market, and it remains the most popular one. USDT is the largest stablecoin by market capitalization, and it is one of the top 5 cryptocurrencies by market cap. The token is fully backed by US dollars held in Tether Limited’s reserves and can be redeemed for cash at any time.
Tether was created in order to provide a stable and convenient way to store value in cryptocurrency exchanges. The idea is that by holding USDT, users can avoid the volatility of the cryptocurrency market and still take advantage of the benefits of blockchain technology. USDT is also convenient for use in trading, as it allows you to quickly and easily convert between fiat currency and cryptocurrency.