Tether (USDT) is a stablecoin, a type of cryptocurrency whose value is pegged to a fiat currency, in this case, the US dollar. Launched in 2014, USDT is designed to bridge the gap between traditional fiat currencies and cryptocurrencies, offering stability and ease of conversion. Operated by Tether Limited, USDT is backed by a reserve of fiat currencies and other assets, ensuring its stability against the volatility of other cryptocurrencies. Its stability and ease of conversion to other cryptocurrencies make it a popular choice for traders and investors seeking to mitigate risks associated with price fluctuations in the crypto market.