Tether is a stablecoin and a token that is pegged to various fiat currencies. Typically when we refer to Tether we are referring to USDT, which is pegged to the United States dollar. This means that each USDT token is backed by one US dollar held in reserve.
Tether is available on a number of blockchains, including Bitcoin, Ethereum, TRON, Algorand and Solana.
Tether supports several currencies: USD, EUR, MXN and CNH. Tether tokens are denoted as USDT, EURT, MXNT and CNHT accordingly.