Tether token is a cryptocurrency that uses blockchain technology with a value equivalent to the U.S. dollar (1 to 1 ratio)

Tether token is developed by a company called Tether Limited.

Unlike Bitcoin, it is backed by Fiat currency reserves mainly USD (technically 1 Tether is equivalent to 1 USD).

There are currently more than 2.1 Billion tethers (Tether token) in circulation.

The total amount of Tether tokens in circulation is backed by the equivalent amount of USD reserves.

It is created to counter the volatility of cryptocurrencies. Hence, makes the digital currency price stable.

Tethers exist on the blockchain through an open-source software called the Omni protocol.

The protocol interfaces with blockchains to allow for the issuance and redemption of tethers (Tether token)

Tether currently supports 3 Fiat currencies USD, Euro, and Japanese Yen.

Represented by ₮, Tether platform currencies are denoted as USDT, EURT, and JPYT.

Tether token serves the purpose of Fiat currency on the few cryptocurrency exchanges.

Exchanges are not the only adopter of Tether tokens

Some of the largest businesses in the digital currency ecosystem have integrated tethers to easily use Fiat currencies on Blockchains.

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