USDT - or as it was known at the time, Realcoin - was launched in 2014 by Brock Pierce, Reeve Collins and Craig Sellars.īrock Pierce is a well-known entrepreneur who has co-founded a number of high-profile projects in the crypto and entertainment industries.

However, keep in mind that regulatory, platform risks and more entail. Stablecoins are increasingly used as an inflation hedge in recent times compared to keeping fiat currency in a savings account averaging 0.06%, users can lend their stablecoins and earn yields ranging from 3% to as high as 20%. The stated purpose of USDT is to combine the unrestricted nature of cryptocurrencies - which can be sent between users without a trusted third-party intermediary - with the stable value of the US dollar. In addition to Bitcoin’s, USDT was later updated to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchains. Originally launched in July 2014 as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin’s blockchain through the use of the Omni platform, it was later renamed to USTether, and then, finally, to USDT. The token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation. dollar, issued by a Hong Kong-based company Tether. USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S.

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