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.
Widespread adoption
From being the first, to the most used, stablecoin, and one of the most traded tokens by volume, Tether tokens have come a long way. Tether tokens are today the most widely adopted stablecoins across major exchanges, OTC desks, and wallets, including:
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 USD₮ Reaches All-Time High, Surpasses Previous Market Cap High of $83.2B
1 June, 2023 – Tether, the company operating the blockchain-enabled platform tether.to that powers the first and most widely used stablecoin, has surpassed its previous all-time market cap high of $83.2B set in May 2022.
“Today’s numbers demonstrate that people want access to financial freedom, and when given that access, they will make use of it,” said Paolo Ardoino, CTO of Tether. “Tether tokens offer a safe harbor for the unbanked and allow people in emerging markets to keep their buying power, even when their national currency is being devalued. Between our battle-tested resilience in the face of market volatility and our industry-leading transparency practices, Tether has proven that it can be trusted, and customers are responding in kind. We are eager to continue maintaining our laser focus on emerging markets and will not waver in our efforts to expand access to financial freedom globally.”
Tether has solidified its position as the preeminent stablecoin and pioneer for financial freedom and innovation. Since its creation in October 2014, Tether's USD₮ stablecoin has become the most traded cryptocurrency, surpassing all rival offerings together. Tether combines the benefits of digital currency, such as instant global transactions, with the stability of traditional currency. With a commitment to transparency and compliance, Tether provides a fast and low-cost way to transact with money.
Tether's recent attestation further demonstrates its commitment to transparency and highlights its work in emerging markets as a safe haven from volatile markets. Moreover, Tether's Q1 performance has been remarkable, reporting a net profit of $1.48B, which has significantly bolstered its reserves. With approximately 85% of its investments in cash, cash equivalents, and other short-term deposits, along with a 20% increase in token supply quarter over quarter and ~2.5B in excess reserves (on top of the 100% minimum reserves), Tether has unquestionably established itself as a trustworthy entity with an extremely optimistic year ahead.
Tether remains committed to providing financial freedom and innovation to users worldwide, particularly in emerging markets. As a trusted stablecoin, Tether continues to lead the way in transparency, resilience, and accessibility to secure and stable digital currency.
Tether Expands Its Presence in Georgia with Investment in CityPay.io
May 31, 2023 - Tether Operations Limited (Tether), the company operating the blockchain-enabled platform tether.to that powers the first and most widely used stablecoin, announced today its increased presence in Georgia with an investment in CityPay.io, a leading payment processing company, active in over 600 locations across the country including shops, hotels, restaurants and more.
Georgia is currently seeing rapid growth and interest in cryptocurrency, including increased demand for crypto payment options. It is one of the most crypto-friendly countries in the world, with 2.89% of Georgians owning some form of cryptocurrency. Crypto ATMs are easily accessible to users in most cities, with a total of 130 ATMs situated across the country. In July 2022, a study by Forex Suggest ranked Georgia fourth, on a list of the most crypto-ready nations in the world.
CityPay.io offers a seamless payment experience to customers of Wendy’s and Radisson Hotels, among hundreds of others. By investing in CityPay.io, Tether aims to bring greater efficiency and convenience to the payment industry in Georgia.
Tether is the first stablecoin to invest in CityPay.io, marking an important milestone for the payment processing industry. This investment will enable CityPay.io to expand its operations and improve its services, ultimately benefiting customers across Georgia and CIS.
"We are excited to be working with CityPay.io to bring greater innovation and efficiency to the payment industry in Georgia," said Paolo Ardoino, Chief Technology Officer at Tether. "Tether is committed to supporting companies that share our vision of building a more connected and accessible financial system. This investment in CityPay.io is an important step towards achieving that goal."
"We are thrilled to be joining forces with Tether," said Eralp Hatipoglu, CEO of CityPay.io. "Their investment will enable us to accelerate our growth and bring our services to more customers across Georgia. We look forward to working closely with Tether to bring greater innovation and efficiency to the payment industry."
Tether's investment in CityPay.io is the first step in the company's expanded presence in Georgia. Tether is committed to bringing greater innovation and efficiency to the payment industry in the state and looks forward to announcing further initiatives in the near future.
Tether token
Tether supports and empowers growing ventures and innovation as a digital token built on multiple blockchains.