Tether (USDT)
Fact sheet · reviewed October 26, 2026
Tether (USDT) is the largest stablecoin: a token designed to always be worth $1, issued by the company Tether. It's used mostly for trading and for moving dollars across borders, and runs on many blockchains, especially Tron and Ethereum.
Key facts
| Launched | 2014 (originally as "Realcoin") |
|---|---|
| Issued by | Tether Ltd. |
| Type | Dollar stablecoin, issued as a token on many blockchains |
| Supply | No fixed limit: coins are issued and redeemed as demand changes |
| Backing (company's reports) | Mostly US Treasury bills and cash equivalents, plus some gold, bitcoin and secured loans |
| Biggest networks | Tron and Ethereum |
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What it's used for
USDT is the most common "dollar" in crypto trading, and widely used to send dollars internationally, especially in countries with unstable currencies.
How it works
Approved customers send dollars to Tether, which issues new USDT, and redeem USDT for dollars. Everyone else buys and sells it on exchanges. See what is a stablecoin?
Risks to know
- You rely on Tether the company: its reserves, banking partners and honesty. In 2021 US regulators fined it over past statements about its backing.
- Tether can freeze USDT at specific addresses.
- Sending USDT on the wrong network (for example TRC-20 vs. ERC-20) is a common, costly mistake.
Buying and storing it
If you decide to buy, use a regulated exchange you reach directly, check fees with the true cost calculator, and store long-term holdings in a wallet you control. Read how to buy crypto safely. This page isn't a recommendation to buy.
Questions
Is USDT safe?
It has kept close to $1 for most of its history, but it isn't a bank deposit or government-insured. Its safety depends on Tether's reserves.
What's the difference between USDT and USDC?
Both aim for $1. They're issued by different companies with different reserve make-ups and disclosure practices.
Where to next
Sources
Facts checked against the sources listed, as of October 26, 2026. Educational only; not financial advice.