Tether is a stablecoin pegged to the US Dollar. A stablecoin is a type of cryptocurrency whose value is pegged to another fiat currency like the US Dollar or to a commodity like Gold.
Tether is the first stablecoin to be created and it is the most popular stablecoin used in the ecosystem. It has the largest stablecoins by circulation and market capitalization.
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.
USD₮ is a digital dollar, powered by blockchain technology, a stablecoin that is pegged 1:1 to the USD.
USD₮ provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar accounting unit.