Tether is incorporated in Hong Kong and was launched in 2014. Since then, it has been used as a digital-to-fiat currency. The people behind it are JL Van Der Velde (Chief Executive Officer), Stuart Hoegner (General Counsel), and Giancarlo Devasini (Chief Financial Officer). It uses Blockchain technology to allow users to send and receive digital tokens internationally, instantly, and securely.
And these advantages are presented to the users for a fraction of the cost of other options. Along with other popular cryptocurrencies like Bitcoin and Ethereum, many people use it as a USD substitute. As such, it's one of the leading cryptocurrencies in terms of trade volume.
Another winning advantage of Tether is it's backed by dollars, physical gold, euros, and other real-world and liquid assets. And its name represents that- a cryptocurrency anchored or "tethered" to real-world cash. People, especially those with limited experience with cryptocurrencies, are drawn to it because of this and its highly liquid nature. The worth of one Tether token is equal to one underlying unit of the currency that backs it, such as the US dollar. Payments can be made via:
- Perfect Money