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 announced that it would launch Tether tokens ($USDt) on Avalanche. Avalanche is a quickly growing decentralized smart contracts platform built to scale for global finances. By launching on Avalanche, $USDt provides a core infrastructure to the Avalanche's DeFi ecosystem.
Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform tether.to that powers the largest stablecoin by market capitalization, will launch Tether tokens (“USDt”) on Avalanche, an open-source platform for launching highly decentralized applications, new financial primitives and interoperable blockchains.
Avalanche is a decentralized smart contracts platform built for the scale of global finance. The protocol is designed as a highly scalable ecosystem with the aim of delivering near-instant transaction finality while levying low transaction fees that are fractions of a cent.
