USD Tether (USDT) is a stablecoin that is tied to the US dollar's value. It was first launched on the Omni layer on top of the Bitcoin blockchain by Tether in 2014 as Realcoin.
Tether claims that whenever it issues new USDT tokens, it adds the same amount of USD to its reserves, ensuring that USDT is fully backed by cash and cash equivalents. This makes USDT a safe haven for crypto investors, as they can park their portfolios in Tether without having to fully cash out into fiat during periods of high volatility.
USDT is now the largest stablecoin by market capitalization, and it is supported by a number of networks like Ethereum, Omni, Tron, EOS, Liquid, and Algorand.
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