Tether

Tether is a cryptocurrency that is designed to maintain a stable value relative to a fiat currency, usually the US dollar. It is known as a stablecoin because its value is pegged to the value of the US dollar at a 1:1 ratio. Tether is issued and managed by a company called Tether Limited. It is used as a means of transferring value between different cryptocurrency exchanges and wallets, as well as for trading and hedging purposes. Tether has been the subject of controversy and scrutiny due to concerns about its transparency and whether it actually holds sufficient reserves to back up its value.