Fintech

Tether reveals assets underpinning its digital currency

Stablecoin creator releases most detailed report yet into the $62bn of reserves that back the digital currency

Tether released the most-detailed version yet of the assets backing its widely used digital currency, seeking to address regulator concerns that it hasn’t in the past disclosed enough about the currency’s underpinnings.

Tether is a stablecoin, a specific type of cryptocurrency designed to mimic the value of the US dollar. Its use has exploded in recent years and is the third most widely held cryptocurrency after bitcoin and ether.

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