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:

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The token that is disrupting the global financial industry

Tether for Individuals

Tether tokens offer exceptional liquidity on tier one exchanges giving traders the ability to take advantage of arbitrage opportunities in the fastest time possible.

Tether for Merchants

For merchants, integrating Tether tokens opens up an array of opportunities for consumers to purchase products and services.

Tether for Exchanges

Tether tokens play a pivotal role in the digital token ecosystem and are the most actively traded in terms of 24-hour volume.

FAQs

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.

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.

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.

Tether supports US dollars (USD), euros, Mexican peso, British Pound Sterling, offshore Chinese yuan, and Gold, with the following Tether tokens, respectively: USD₮, EUR₮, MXN₮, GBP₮, CNH₮ and XAU₮.

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

The Many Ways Tether Leads the Stablecoin Market

Clearly, the growth of the total supply of stablecoins (which has exceeded $120 billion dollars) has caught the attention of many individuals and financial firms alike. However, high-profile failures like Terra have also been a critical part of the surge of attention, including attention from regulators and critics.The utility of stablecoins is growing daily, which is good for the industry and for adoption. Many industry participants have commented on how the gap between Tether and its largest competitors has narrowed. However, the difference between USD₮’s 24hr trading volume and its competitors tells a clearer and more important story.For example, rather than catering to the traditional banking industry, Tether is focused on being the most used currency for crypto currency trading and settlements, peer-to-peer exchanges, remittances, a tool of freedom and inflation hedge for developing countries.This is why, during what's fair to define as the worst black swan event for crypto to date crypto, investors felt pressure to remove their excess cash from crypto.  Since Tether is the gateway for this industry, its marketcap has decreased due to billions of cash redemptions. Tether effortlessly facilitated these redemptions over the past several weeks, while Tether’s 24hr trading volume continues to be roughly 10x that of its closest competitor. This demonstrates the utility of and the demand for Tether in daily trading, a true measure of adoption.The sheer scale of the integration of USD₮ into the financial plumbing of the crypto industry is an order of magnitude greater than its nearest competitor. This speaks volumes to the confidence the industry and all of its users have, in Tether and USD₮. USD₮ is the Most Transparent StablecoinTether’s competitors are often portrayed as more “transparent” than Tether and pundits will use this framing to construct a narrative that users choose them over Tether due to these qualities. It does not reflect reality in any way.Tether was the first stablecoin to provide attestations to the nature and breakdown of its reserves. Its competitors only provided this same level of transparency once Tether did.Tether is critiqued for not having an audit, meanwhile, no stablecoin has ever produced an audit.That will change soon.Tether is currently preparing itself to go through an audit with a major accounting firm, one of the “Big 12” accounting firms.The first question critics will ask is “Why not one of the Big 4?”. The reason is the Big 4 auditors are highly concerned with reputational risk due to the lack of regulatory clarity around stablecoins, and as such, they are not providing audit services to stablecoins. This is why none of Tether’s competitors has an audit from a Big 4 firm either.Tether plans to be the first stablecoin to offer an audit into its reserves to the market. We expect that, as always, other stablecoins will merely follow Tether’s lead.Composition of Tether ReservesIt is important to clarify the rumors being circulated by hedge funds about Tether's commercial paper holdings. The rumors that Tether's commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and being traded at a 30% discount are completely false and aim to spread misinformation that will move the markets in the direction that hedge funds need in order to make a spread.Tether condemns such attempts which oftentimes see the simplest users take the biggest hit, while few coordinated funds increase their profits.In its latest assurance opinion, Tether announced that over 47% of total USD₮ reserves are now US Treasuries and that commercial paper makes up less than 25% of USD₮'s backing.Tether can report that its current portfolio of commercial paper has since been further reduced to 11 billion (from 20 billion at the end of Q1 2022), and will be 8.4 billion by the end of June 2022. This will gradually decrease to zero without any incurrences of losses. All commercial papers are expiring and will be rolled into US Treasuries with a short maturity.You can access our most recent attestation and other information at https://tether.to/en/transparency for the most up-to-date reporting on Tether’s reserves.Redemptions, DDoS, and the Road ForwardTether has processed over $14 billion in redemptions since May. Critics have been the first to notice this fact.However, this is a fundamental attestation to the strength of USD₮ and the quality of Tether’s reserves. Redemptions of a similar size, and of equivalent proportions of total assets, have brought down major banks before.Most notably, Tether processed a larger proportion of total assets in 10 days than Washington Mutual did before its collapse and failure. Critics continue to try to spin the story of redemptions as a weakness. Nothing could be further from the truth.Tether’s handling of redemptions, and the ongoing stability of USD₮, is nothing but a battle-tested affirmation of the strength, stability, and liquidity of USD₮.Tether also faced a DDoS attack within the last week. This attack was directed to Tether’s website, not anything related to the functioning of USD₮ on the various blockchains it is issued on.Websites, and companies, face DDoS all of the time. In 2021 there were 9.7 million DDoS attacks.This is business as usual for organizations operating online, especially firms in the public eye.DDoS attacks on Tether’s website can never have any impact on the stability, liquidity, or redeemability of USD₮.And during all of this, Tether continues to launch new tokens in its pursuit of financial freedom for people all over the world.Tether has launched, and is in the process of launching more pegged tokens. Tether launched a Euro-pegged token, a Mexican Peso-pegged token, and is planning to launch a British Pound-pegged token. The question of marketcap is far from the most interesting, or the most relevant question in evaluating Tether and its mission. Total trading volume, utilization in derivatives and De-Fi, acceptance by merchants, and all of Tether’s other products paint a much clearer picture. If at any point USD₮ is overtaken in marketcap by any competitor, nothing changes for Tether.USD₮ continues to be redeemable 1 for 1 with dollars. USD₮ continues to be a highly liquid, highly traded integral financial asset. People around the world will continue to accept USD₮ in markets where dollar access is limited.And most importantly, Tether continues to advance its mission of promoting financial freedom, inclusion, and the peer-to-peer economic rights of human beings globally. 

Tether To Launch GBP₮, Tether Tokens Pegged to the British Pound Sterling

The British Virgin Islands, 22 June 2022: Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform tether.to that powers the largest stablecoin by market capitalization of over US $68 billion, has announced that it will be launching Tether tokens (“GBP₮”) pegged to the British Pound Sterling in early July. Initial blockchain support will include Ethereum.GBP₮ will join four other fiat-currency pegged tokens Tether has in the market: the U.S. dollar-pegged USD₮, the Euro-pegged EUR₮, the offshore Chinese Yuan-pegged CNH₮, as well as the recently launched MXN₮, the Mexican Peso-pegged stablecoin. In April of this year, The UK Treasury announced plans to make the country a global crypto hub. According to its website, the government will also make moves to see stablecoins recognized as a valid form of payment. This initiative, paired with hundreds of millions of people using crypto around the world, makes the United Kingdom a prime location for the next wave of industry innovation.GBP₮ will be a stable digital asset that is pegged 1:1 to the British Pound Sterling. GBP₮ will be built by the trusted team of developers behind Tether USD₮ and operate under tether.to. The creation of GBP₮ will put British Pounds on the blockchain and provide a faster, less costly option for asset transfers. “We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial markets. We hope to help lead this innovation by providing cryptocurrency users worldwide with access to a GBP-denominated stablecoin issued by the largest stablecoin issuer,” said Paolo Ardoino, CTO of Tether. “Tether is ready and willing to work with UK regulators to make this goal a reality and looks forward to the continued adoption of Tether stablecoins”. The launch of GBP₮ represents Tether's dedication to pioneering stablecoin technology and bringing the largest and most liquid stablecoins to global markets everywhere. GBP₮ will reinforce the British Pound Sterling as one of the most dominant currencies across the globe and introduce an FX opportunity for USD₮ and EUR₮. It will also act as an on-ramp to the decentralized finance ecosystem.To learn more about GBP₮, please visit www.tether.to or contact us at https://cs.tether.to/  Important NoteThis press release is not an offer to sell or the solicitation of an offer to buy GBP₮, USD₮, EUR₮, CHN₮ or MXN₮. Tether Limited and Tether International Limited will only sell or redeem GBP₮, USD₮, EUR₮, CHN₮ and MXN₮ pursuant to its terms of service available (as of the date of this press release) at https://tether.to/en/legal.Forward-Looking StatementsCertain statements in this press release may be forward looking in nature. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. None of Tether Operations Limited, Tether Limited Tether International Limited nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Tether token

Tether supports and empowers growing ventures and innovation as a digital token built on multiple blockchains.

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