Tether (USDT) is a type of cryptocurrency called a stablecoin, which aims to maintain a stable value by pegging it to a fiat currency, in this case, the US dollar. This means that 1 USDT is intended to be worth $1 USD. Tether is issued by Tether Limited and operates on various blockchains. It is widely used in the cryptocurrency market for trading, as a store of value, and as a means of transferring value between exchanges and wallets. While it aims for stability, Tether's peg to the dollar has been questioned at times, and its reserves have been subject to scrutiny.