← DeFi glossary
Glossary · U
USDT (Tether)
The largest stablecoin by market capitalisation, issued by Tether Limited. USDT is pegged 1:1 to the US dollar and backed by a mix of cash, Treasury bills, commercial paper, and other assets. USDT is widely used on centralised exchanges and DeFi protocols, though its reserve transparency has historically faced scrutiny.
Last updated