What is USDT? What is USDT?

USDT is Tether. Tether, also known as "stablecoin", is a virtual currency that links cryptocurrency to the legal currency US dollar. It is a virtual currency that is stored in a foreign exchange reserve account and supported by legal currency. Tether is a virtual currency issued by the US Tether company. Its circulation is limited to the cryptocurrency system. It is not equal to the Bretton Woods system established by the US dollar after World War II. The US dollar can circulate around the world as a hegemonic currency. Tether is a virtual currency anchored to the US dollar at a 1:1 value.

In late November 2014, Realcoin, a company registered in the Isle of Man and Hong Kong, changed its name to Tether. When it was released in February 2015, it had a strong leg. At that time, Bitfinex, the largest trading platform for Bitcoin futures trading, announced support for Tether trading. Subsequently, the competing currency trading platform Poloniex exchange also supported Tether. With the strong rise of Ethereum, P Network has a hidden leading position in competing currency trading platforms, and also boosted the trading volume of USDT.