Tether protocol

Protocol · PageRank 0.0000

Overview

Tether is a centralized stablecoin protocol that issues USDT, a token designed to maintain a 1:1 peg with the US dollar. It is primarily used as a medium of exchange and store of value in cryptocurrency markets, and its reserves are held largely in US Treasury bills, along with cash and other assets.

Relations

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Frequently asked questions

What is Tether?

Tether is a centralized stablecoin protocol that issues USDT, a token designed to maintain a 1:1 peg with the US dollar.

What is USDT used for?

USDT is primarily used as a medium of exchange and store of value in cryptocurrency markets.

What backs the value of Tether's USDT?

Tether's reserves consist of a mix of cash, cash equivalents, and other assets.

Sources

• NYDFS — Virtual Currency Business Licensing (BitLicense registry)
• CFTC — Tether/Bitfinex settlement (Oct 2021)