What currency does USDT belong to?

USDT is Tether. Tether is the world's first stable currency. Tether (USDT) is a virtual currency that links cryptocurrency to the legal currency US dollar. It is a currency that is kept in a foreign exchange reserve account and obtained by legal tender. Currency-backed virtual currency. Each Tether is symbolically tied to a government-backed fiat currency.

USDT is Tether

Tether is the world’s first stable currency. Tether (USDT) is a cryptocurrency that combines cryptocurrency with fiat A virtual currency pegged to the U.S. dollar is a virtual currency that is held in a foreign exchange reserve account and backed by legal currency. Each Tether is symbolically tied to a government-backed fiat currency. In May 2022, with the help of Genesis Global Trading Inc., one of the largest crypto brokers, more and more traditional hedge funds began to short USDT.

USDT is Tether USD (hereinafter referred to as USDT), a token based on the stable value currency U.S. dollar (USD) launched by Tether. 1USDT=1 US dollar. Users can use USDT and USD for 1:1 exchange at any time. Tether strictly adheres to the 1:1 reserve guarantee, that is, for every USDT token issued, its bank account will have 1 US dollar of funds guaranteed.

Users can conduct fund inquiries on the Tether platform to ensure transparency. Users can wire USD to a bank account provided by Tether via SWIFT, or exchange for USDT through an exchange. When redeeming USD, just do the reverse operation. Users can also exchange Bitcoin for USDT on the exchange.

Basic information

Name: Tether

Abbreviation: USDT

Developer: Craig Sellars

Core Algorithm Script

Issuance time: 2014-11-26:

Total issuance: 4,270,057,493

Features: Stable value-preserving token

Currency unit: USDT

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