Tether USDt

Halal Rating :
Comfortable
Last Price $1.0 Last updated:
Rank 3
1D Change 0.00 %
Market Cap $141.77b
Circulating supply 141,737,141,515
Maximum supply None

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Purpose and Utility

Tether (USDT) is a stablecoin designed to maintain a 1:1 peg with the US Dollar. Its primary purpose is to provide a stable digital asset for crypto trading, remittances, and as a bridge between traditional finance and cryptocurrencies. Each USDT token is meant to be backed by equivalent reserves in US dollars and other assets.

Business Model

Tether's business model involves maintaining dollar-equivalent reserves to back each USDT token in circulation. The company generates revenue through fees on USDT issuance and redemptions, and from the returns on its reserves. As of 2024, Tether has become increasingly transparent about its reserves, publishing quarterly attestation reports verified by BDO.

Real-World Adoption

USDT is the most widely used stablecoin in the cryptocurrency ecosystem, with a market capitalization exceeding $95 billion as of early 2024. It serves as the primary trading pair on most cryptocurrency exchanges and is widely used for remittances and international payments.

Platform Development

Tether operates on multiple blockchain networks including Ethereum, Tron, and Solana, among others. The company regularly updates its infrastructure and has enhanced its transparency measures over time.

Token Distribution and Governance

USDT tokens are issued by Tether Limited, with new tokens minted when USD or equivalent assets are deposited into their reserves. The company maintains control over the issuance and burning of tokens, operating in a centralized manner.

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