Markets & products
Tether is a cryptocurrency with digital tokens designed to replicate the value of the United States Dollar. The owners of the platform claim that Tether is a token backed by actual assets, including USD and Euros. One Tether equals one underlying unit of the currency backing it, e.g., the U.S. Dollar, and is backed 100% by actual assets in the Tether platform's reserve account. Being anchored or "tethered" to real world currency, Tether provides protection from the volatility of cryptocurrencies. Tether enables businesses – including exchanges, wallets, payment processors, financial services and ATMs – to easily use fiat-backed tokens on blockchains. By leveraging Blockchain technology, Tether allows you to store, send and receive digital tokens person-to-person, globally, instantly, and securely for a fraction of the cost of alternatives. Tether initially supports US Dollars (USD), Euros (EUR), and the offshore Chinese yuan (CNH). Represented by ₮, tether platform currencies are denoted as USD₮, EUR₮, CNH₮.