Tether token
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Driving the Future of Money
Tether tokens are the most widely adopted stablecoins, having pioneered the concept in the digital token space. A disruptor to the conventional financial system and a trailblazer in the digital use of traditional currencies, Tether tokens support and empower growing ventures and innovation throughout the blockchain space. Tether tokens exist as a digital token built on multiple blockchains.
100% backed and fully transparent
All Tether tokens (USD₮) are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether’s reserves. We publish a daily record of the current total assets and reserves.
The token that is disrupting the global financial industry
Tether for Individuals
Tether for Merchants
Tether for Exchanges
FAQs
How do Tether tokens work?
Tether tokens exist as digital tokens built on several leading blockchains, including Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Tezos, Tron, Solana and Statemine. These transport protocols consist of open source software that interface with blockchains to allow for the issuance and redemption of Tether tokens.
Every Tether token is 100% backed by our reserves, which includes traditional currency and cash equivalents, and may include other assets and receivables from loans made by Tether to third parties.
The Tether platform is fully reserved when the sum of all Tether tokens in circulation is less than or equal to the value of our reserves. Through our Transparency page, anyone can view both of these numbers on a daily basis.
Tether was originally created to use the Bitcoin network as its transport protocol—specifically, the Omni Layer—to allow transactions of tokenised traditional currency. Since this original version of Tether uses the Bitcoin blockchain, it inherits the inherent stability and security of the longest established blockchain network.
Tether on the Ethereum blockchain, as an ERC20 token, is a newer transport layer, which now makes Tether tokens available in Ethereum smart contracts or decentralized applications on Ethereum. As a standard ERC20 token it can also be sent to any Ethereum address.
Since Tether tokens are currently available using different transport protocols, when users send Tether tokens to other addresses, they need to carefully check the destination address to confirm they are selecting the correct transport protocol.
What are Tether tokens?
Tether tokens are assets that move across the blockchain just as easily as other digital currencies but that are pegged to real-world currencies on a 1-to-1 basis.
Tether tokens are referred to as stablecoins because they offer price stability as they are pegged to a fiat currency. This offers traders, merchants and funds a low volatility solution when exiting positions in the market.
All Tether tokens are pegged at 1-to-1 with a matching fiat currency (e.g., 1 USD₮ = 1 USD) and are backed 100% by Tether’s reserves.
As a fully transparent company, we publish a daily record of the current total assets and reserves.
What currencies and commodities does Tether support?
Tether supports US dollars (USD), euros, Mexican peso, offshore Chinese yuan, and Gold, with the following Tether tokens, respectively: USD₮, EUR₮, MXN₮, CNH₮ and XAU₮.
Who can use Tether tokens?
Tether tokens enable businesses – including exchanges, wallets, payment processors, financial services and ATMs – to easily use fiat currencies on blockchains. Some of the largest businesses in the digital currency ecosystem have integrated Tether tokens.
View industry supporters.
Individuals can also use Tether-enabled platforms to transact with Tether tokens.
Latest news
Tether Assists US Government in Seizure of Illicit Funds Linked to Tech Scam
March 12, 2024 — Tether, the largest company in the cryptocurrency ecosystem, has played a pivotal role in assisting the United States Department of Justice and Federal Bureau of Investigation, in their seizure of approximately $1.4 million worth of Tether (USDT) tokens from a tech support scam network. The funds will be returned to the victims of the fraud. Tether’s voluntary support of the DOJ and FBI marks another significant effort in its fight against the use of cryptocurrency in the commission of financial fraud.
The U.S. DOJ publicly acknowledged Tether for its assistance in effectuating the transfer of these assets, further underscoring the company's commitment to upholding integrity within the crypto industry.
The alleged fraud scheme, which remains under investigation, targeted mostly elderly individuals across the United States. Perpetrators used popups to deceive victims into believing their computers were compromised, prompting them to contact tech support. Victims were then coerced into thinking their bank accounts were in danger, leading to funds being converted into cryptocurrency to supposedly protect them from hackers. These funds were transferred into virtual currency wallets controlled by the perpetrators.
“We are proud of our collaboration with the United States government in combating financial fraud within the cryptocurrency ecosystem. The seizure of $1.4 million worth of Tether (USDT) marks a significant milestone in our ongoing efforts to uphold integrity in this rapidly evolving industry,” said Paolo Ardoino, CEO of Tether “Our commitment to safeguarding users and eradicating illicit activities remains unwavering. Together with law enforcement agencies across the globe, we will continue to lead the charge in fostering a safer and more secure environment.”
Tether remains steadfast in its commitment to combating financial fraud and illicit activities in cryptocurrency. The company will continue to voluntarily assist law enforcement agencies to help protect the safety and security of its users and the broader crypto community.
Tether Token (USDT) to Launch on Celo
March 11, 2024 — Tether Operations Limited (Tether), the largest company in the cryptocurrency industry, announced today that USDT will launch on Celo, a mobile-first and EVM-compatible blockchain network that’s built for the real world and designed for fast, low-cost payments worldwide. This strategic collaboration between Tether and the Celo ecosystem ushers in a new era of accessibility and utility for digital currency users and represents a significant milestone for both platforms, as they join forces to enhance financial inclusion and empower individuals across the globe.
Celo's mobile-first design ethos and its extensive ecosystem, spanning over 1,000 projects across more than 150 countries, align perfectly with Tether's mission of accessibility. This integration brings a range of benefits, notably low, sub-cent transaction fees, which hover around $0.001, making microtransactions feasible for users of all socio-economic backgrounds and geographies. Celo's EVM-compatible blockchain infrastructure further integrates with the industry’s leading Ethereum ecosystem.
Additionally, a community Forum post by Celo core contributors at cLabs will propose the innovative use of USDT as a gas currency, which will streamline transactions and foster efficiency within decentralized applications (dApps) focusing on payments, lending, and more. Celo's vibrant ecosystem includes projects like Opera MiniPay’s ultralight stablecoin wallet in countries like Kenya and Ghana, built into the Mini browser, among other use cases providing an optimal environment for the adoption and utilization of USDT.
The carbon-negative Celo blockchain will not only ensure the accessibility of USDT through mobile devices but also uphold the financial transparency and low costs synonymous with Tether. This expansion underscores the shared mission of both companies to extend the advantages of blockchain-powered technologies to mainstream consumers worldwide.
"At Tether, we are committed to providing accessible and reliable digital currency solutions to users worldwide," said Paolo Ardoino, CEO of Tether. "The integration of Tether USDT on the Celo platform, which is built for the real world, will represent a significant step forward in our mission. By leveraging the unique capabilities of Celo, we can further enhance the usability and accessibility of Tether for millions of people."
Tether USDT will join a diverse array of stable assets on the Celo platform, including solutions such as Mento's eXOF and cREAL, which track the CFA Franc (used across 14 countries in sub-Saharan Africa) and the Brazilian Real, respectively, catering to various regions and currencies. This integration expands the use cases for stable assets on Celo, including, but not limited to remittances, savings, lending, and peer-to-peer (P2P) and cross-border payments.
Key features of the Celo platform, such as SocialConnect, a privacy-first naming service, made for phone numbers, email addresses, and other social identifiers, and FiatConnect, an open on-/off-ramp API standard will also enhance accessibility and usability for users, making it easier than ever to transact with Tether USDT on Celo. Additionally, the ability to pay for gas with ERC-20 tokens, including stable assets, will provide an easy, seamless payment experience for users.
"We are thrilled to welcome Tether USDT to the Celo ecosystem, which is fast becoming a leader in stablecoins and real-world assets (RWAs)" said Rene Reinsberg, Celo Co-Founder and Celo Foundation President. "This integration aligns with our mission to create a digital economy that creates the conditions for prosperity for everyone. With Tether USDT soon available on Celo, users have even more options for fast, low-cost payments and access to robust stablecoin use cases that benefit everyday users around the world."
The launch of Tether USDT on Celo will mark a significant milestone for both platforms and the broader ecosystem. It underscores the importance of collaboration and innovation in driving the adoption of digital currencies and advancing financial inclusion on a global scale.
It also solidifies Tether's position as the most widely adopted stablecoin, which is now live on 16 networks, including Algorand, Avalanche, Ethereum, EOS, Liquid Network, Near, Omni, Polygon, Solana, Bitcoin Cash's Standard Ledger Protocol, Statemine, Statemint, Tezos, and Tron.
For more information about Tether and Celo, visit Tether and Celo.
Important Note
This press release is not an offer to sell or the solicitation of an offer to buy USDT. Tether Limited and Tether International Limited will only sell or redeem USDT pursuant to the terms of service available (as of the date of this press release) at https://tether.to/en/legal.
Driving the Future of Money
Tether supports and empowers growing ventures and innovation throughout the blockchain as a digital token built on multiple blockchains.