Tether (USDT)USD

Tether (USDT) is a fiat-collateralized stablecoin issued by Tether Limited, designed to maintain a one-to-one peg with the U.S. dollar. It functions as a digital representation of USD across multiple blockchains. Brock Pierce, Reeve Collins, and Craig Sellars founded the project in 2014 under the name Realcoin before rebranding it to Tether. The first tokens were deployed on the Omni layer of the Bitcoin blockchain, with the initial 100 USDT minted on October 6, 2014. Tether does not operate its own blockchain or consensus mechanism. Instead, it issues and redeems tokens off-chain while USDT circulates on top of existing networks such as Bitcoin, Ethereum, Tron, and Solana, inheriting each host chain's consensus rules. The token trades under the ticker USDT and is used primarily as a stable medium of exchange, a settlement asset, and a leading trading pair on cryptocurrency exchanges. USDT supply is uncapped; Tether mints and burns tokens in response to market demand and redemptions. Circulating supply stood in the range of roughly 183 to 189 billion dollars in 2026, making it the largest stablecoin by supply. USDT is widely used as a bridge between traditional currencies and the broader cryptocurrency market.