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Tether (often referred to by one of its currency codes, USD₮), is an asset-backed cryptocurrency stablecoin. It was launched by the company Tether Limited Inc. in 2014.Tether Limited is owned by the Hong Kong-based company iFinex Inc., which also owns the Bitfinex cryptocurrency exchange. As of July 2022, Tether Limited minted the USDT stablecoin on ten protocols and blockchains. Tether is described as a stablecoin because it was originally designed to be valued at USD $1.00, with Tether Limited maintaining USD $1.00 of asset reserves for each USDT issued.

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