About Tether

Tether (USDT) is the largest stablecoin cryptocurrency. It is pegged to the US Dollar. (1 USDT=$1 USD) Each Tether token that is issued is backed by $1 USD that is supposedly held in reserve. Tether has been the subject of some controversy because they have failed to allow a transparent audit of their currency reserves.
Tether facilitate transactions between cryptocurrency exchanges at a rate that is fixed to the United States dollar. This allows traders to take better advantage of arbitrage opportunities. Tether was created by the leaders of Bitfinex, one of the largest crypto exchanges.