USDT

Tether (USDT) is a fiat-pegged stablecoin that was initially built on top of Bitcoin via the Omni Layer Protocol. In September 2017, Tether announced they would be launching additional ERC-20 tokens for United States dollars on the Ethereum blockchain.

Each Tether issued into circulation is said to be backed by a one-to-one ratio with the equivalent amount of fiat currency held in a custodial account by Tether Limited, a Hong Kong-based company with close ties to the cryptocurrency exchange, Bitfinex.

Despite the controversy around the company's failure to provide a promised audit showing adequate reserves backing tether, USDT is still the world's largest stablecoin by market cap and currently the fourth-largest cryptocurrency after BTC, ETH and XRP.

Key Facts

Issued by

Tether Limited

Name

Tether

Symbol

USDT

Address

0xdac17f958d2ee523a2206206994597c13d831

Decimals

6

Official site

https://tether.to/

Holders

Over 1.8M addresses