Introducing Tether (USDT) to make stability and crazy liquidity happen!
Tether converts cash into digital currency to mirror the price of national currencies like the USD, the Euro, and the Yen. Tether (USDT) is a stable coin — cryptocurrency holding stable value — and is 100% backed by the USD held in their reserves in a 1:1 ratio. Hence:
1 USDT is always equivalent to $1 USD
While building WazirX P2P, we realized that since crypto price fluctuations are beyond our control, we needed to bring in a stable coin. Thanks to the amazing crypto ecosystem, there are plenty of stable coin options available! Since we wanted to add the stable coin with the highest liquidity in the global market, we’ve decided to go with Tether (USDT) to use in WazirX P2P. Also, USDT Deposits are live.