USDT is a stablecoin that’s targeting a $1 peg. The stablecoin was originally introduced in 2015 by Tether, a company that shares multiple high-ranking officials with major cryptocurrency exchange Bitfinex.  Key USDT features: Launched in 2015 Designed to trade as close to $1 as possible The largest stablecoin by market cap and trading volume Available on multiple blockchain platforms USDT usually trades very close to its $1 peg target since the tokens can be redeemed for USD on a 1:1 basis through its issuer, Tether. The minimum amount of USDT that can be redeemed directly through Tether is 100,000 tokens ($100,000), which means that the everyday cryptocurrency trader will eventually have to convert their USDT into another cryptocurrency or use an exchange that lists USDT against a fiat currency. USDT/fiat pairs are currently quite rare to find, but they do exist – Kraken is an example of an exchange where USDT can be converted to USD and vice versa (as of February 2020). This model has generally proven to be a success with USDT being listed on a large number of cryptocurrency exchanges and becoming one of the most traded crypto assets in the world, as traders value the ability to quickly switch between volatile cryptocurrencies and a more stable asset. The bulk of USDT trading is done against “traditional” cryptocurrencies such as Bitcoin. USDT was initially launched through the Omni Protocol, a solution which makes it possible to create custom tokens that leverage the security of the Bitcoin blockchain. Omni-based USDT tokens are still in circulation, but USDT tokens have since also been issued on Ethereum, EOS, TRON, Algorand and Liquid Network.  The transparency of Tether has been called into question in the cryptocurrency community on numerous occasions and this has opened up the door for alternative stablecoins like USD Coin, Paxos Standard Token, True USD and Dai to enter the market. Despite its controversial status, competitors have so far been unable to pose a real challenge to Tether and USDT remains by far the largest stablecoin both in terms of market capitalization and trading volume. On CoinCodex, you can stay up to date with the latest information regarding the USDT price, market cap and news.