USDT
USDT (Tether) is a US-dollar stablecoin issued by Tether, designed to hold a value of one dollar and among the most widely used digital assets by volume.
What it is. USDT is the longest-established and, by trading volume, one of the most heavily used stablecoins. Like other reserve-backed stablecoins, each USDT aims to be worth one US dollar, backed by reserves held by the issuer. It is available across many blockchain networks and is deeply embedded in digital-asset markets worldwide, functioning for many users as the default on-chain dollar. Its longevity and ubiquity have made it a foundational instrument in the digital-asset economy.
Scale and role. USDT's defining characteristic is its ubiquity: it is very widely accepted across exchanges and digital-asset venues, and often serves as the default dollar unit for on-chain activity, particularly in markets with limited access to traditional US-dollar banking. That reach makes it a primary vehicle for moving dollar value on-chain globally, and its deep liquidity means large amounts can be moved and converted readily. In many corridors and markets, USDT is simply the most available dollar-denominated digital asset.
Where it fits. USDT and USDC are the two dominant dollar stablecoins. They are often discussed together but differ in emphasis — USDT on breadth of adoption and liquidity, USDC on reserve transparency and regulatory engagement. Both belong to the broader *stablecoin* category and are commonly used in cryptocurrency settlement and for moving value between fiat and digital assets. The choice between them often comes down to which is more available and liquid in a given market versus which offers the reserve transparency a particular counterparty requires. In much of the world, though, USDT's sheer availability makes it the practical default for holding and moving dollars on-chain.