What is USDT coin? Total issuance of USDT coins and introduction to the white paper

Tether's USDT, a cryptocurrency pegged to the US dollar with a market cap of approximately $67 billion, can be purchased and used for various transactions.

Oct 03, 2024 at 01:23 am

What is USDT Coin?

Tether (USDT) is a cryptocurrency designed to be pegged to the value of the United States dollar. This means that USDT is intended to have a value of $1 USD at all times. USDT is issued by Tether Limited, a company based in the British Virgin Islands.

Total Issuance of USDT Coins

As of August 2023, there are approximately 67 billion USDT coins in circulation. The total issuance of USDT is not limited, however, and Tether Limited can issue new coins at any time.

White Paper

Tether Limited released a white paper in July 2019 that provides an overview of the USDT coin and how it works. The white paper states that USDT is backed by a combination of fiat currencies, commodities, and other assets, and that Tether Limited is audited on a regular basis to ensure that the value of USDT is consistent with its peg to the US dollar.

Key Features of USDT

Pegged to the US dollar
Total issuance not limited
Backed by a combination of fiat currencies, commodities, and other assets
Audited on a regular basis
Can be used to purchase other cryptocurrencies
Can be used to make payments online

Conclusion

USDT is a cryptocurrency that is designed to be pegged to the value of the US dollar. USDT is issued by Tether Limited and is backed by a combination of fiat currencies, commodities, and other assets. USDT is audited on a regular basis to ensure that the value of USDT is consistent with its peg to the US dollar. USDT can be used to purchase other cryptocurrencies and make payments online.

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