Tether Limited

Tether Limited is the company that introduced Tether (USD₮ or USDT), an asset-backed cryptocurrency stablecoin, in 2014. It is owned by the Hong Kong-based company iFinex Inc. which also owns the cryptocurrency exchange, Bitfinex.

Tether Limited has minted the USDT stablecoin on ten protocols and blockchains as of July 2022. Since Tether was initially intended to be worth $1 USD, it is referred to as a stablecoin. Tether Limited claims to keep $1 in asset reserves for every USD₮ it issues, but has been punished by regulators for not doing so and for failing to provide audits demonstrating enough asset reserves.