Tether is a stablecoin, a type of cryptocurrency meant to be backed by a real-world fiat currency at a 1:1 ratio. Tether acts as a cryptocurrency representing USD. After claiming each individual token was backed by 1 US Dollar, in March 14 2019 their policy changed backings to include loans to affiliate companies. Furthermore, the company issuing Tether, Tether Limited, stated that owners have no contractual right, legal claim, or guarantee that Tether tokens will be redeemed or exchanged for US dollars. Nonetheless, USDT remains the biggest stablecoin in the crypto market for the time being.
Launched: July 2014
Block Time: dependent on platform tokens are issued on