Tether (USDT) is a cryptocurrency that is designed to be pegged to a specific currency or asset. It is issued by Tether Limited, a company that aims to provide a "stablecoin" that can be used to facilitate transactions on the blockchain without the volatility that is commonly associated with other cryptocurrencies. USDT is designed to be pegged to the US dollar, so one USDT is meant to be worth approximately one US dollar. Tether Limited claims that each USDT is backed by a corresponding US dollar held in reserve, although this has been disputed by some. USDT is widely used on cryptocurrency exchanges as a way to trade cryptocurrencies without the volatility that is associated with trading them directly.

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