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
What is Tether?
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratised cross-border transactions across the blockchain.
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.
Tether and Bitfinex Agree to Drop Opposition to FOIL Request
November 24, 2023 : Tether and Bitfinex place a high value on transparency, a core principle within the cryptocurrency industry. Our commitment to transparency is evident through our past actions, such as Tether dropping opposition to a New York Freedom of Information Law (FOIL) request brought by Coindesk earlier this year. However, it's essential to clarify that transparency does not mean a wholesale release of all our documents. This approach is not in line with standard business practices.
Despite concerns that have arisen regarding the nature of the most recent NY FOIL request received by Tether and Bitfinex, particularly in light of certain behaviors exhibited by the journalists making that request, including Zeke Faux, Shane Shifflett, and Ada Hui, we want to make it clear that Tether and Bitfinex will not be further appealing this FOIL request. Our decision is rooted in our unwavering commitment to transparency and the belief that we have nothing to hide.
Zeke Faux's previous work on Tether and Bitfinex has sometimes extended beyond the boundaries of professional journalism, and we have also observed one-sided and inaccurate reporting from various media outlets, including the Wall Street Journal and Bloomberg, whose journalists are participating in this FOIL request. Our goal is to set a higher moral standard and lead by example.
Our dedication to transparency never compromises our commitment to handling business information responsibly. We remain open to constructive engagement with journalists and regulatory authorities who adhere to ethical reporting standards and respect data privacy boundaries. We also believe that responsible document review and handling is essential before any public release, and we stress that transparency does not equate to unrestricted public disclosure of all documents.
Both Bitfinex and Tether stand as the most transparent companies in their industries, and we are committed to maintaining this reputation. Our decision to not appeal this FOIL request reinforces our commitment to both responsible business practices and transparency.
Tether Assists the U.S. DOJ and U.S. Secret Service in Criminal Investigations and Victim Recovery
November 21, 2023 – Tether, the largest company in the cryptocurrency industry, continues its unwavering commitment to combat illicit activities and provide support to victims through its assistance to, and support of, law enforcement agencies. As the U.S. Department of Justice just touted in a press release, Tether again helped law enforcement thwart the bad actors and aid their victims' recovery.
In line with its dedication to upholding the integrity of the financial ecosystem, Tether recently onboarded the United States Secret Service into its platform and will be working with the Federal Bureau of Investigation to do the same. This strategic initiative aims to extend crucial support to victims affected by crimes under investigation by the U.S. Department of Justice. Tether remains resolute in aligning its efforts with law enforcement to combat nefarious activities and contribute to victim recovery.
Paolo Ardoino, CEO of Tether, emphasized the company's stance, stating, "Tether remains steadfast in its commitment to supporting law enforcement efforts and aiding victims in their recovery. We condemn the misuse of USDT or any cryptocurrency for illicit purposes and are fully committed to collaborating with global law enforcement agencies."
Tether’s assistance to the U.S. Department of Justice stands as a tangible testament to the enduring relationship between the cryptocurrency industry and law enforcement agencies. These ongoing efforts exemplify Tether's proactive approach to supporting law enforcement initiatives and underscore its dedication to contributing positively to the global financial ecosystem.
Driving the Future of Money
Tether supports and empowers growing ventures and innovation throughout the blockchain as a digital token built on multiple blockchains.