USDT is a U.S. dollar stablecoin issued by Tether across multiple blockchain networks and designed to maintain a 1:1 peg to the U.S. dollar through the issuer’s reserve model. In market practice, USDT serves as a core settlement and transfer asset of the crypto market, widely used for quoting trading pairs, moving liquidity between exchanges and networks, and holding a dollar-denominated cash equivalent within crypto infrastructure. Tether was launched in 2014 and became the first broadly adopted model of a U.S. dollar stablecoin in the market.