What is Tether?
Tether (USDT) is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by 1 US Dollar held in the reserves of Tether Limited. Tether can be transferred, stored, spent, just like any other cryptocurrency. Tether (USDT) offers an alternative to Proof of Solvency methods by introducing a Proof of Reserves Process. Tether is a crypto-fiat stable coin, meaning that its value mirrors that of the US Dollar. Learn more about Tether in our cryptocurrency guides.
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