What is Tether (USDT) and who invented it?

Tether is a stablecoin issued by Tether Limited. Since Tether Dollars (USDT) is the most popular token of the company, by default it is understood as Tether.

Who created Tether and when?

The history of Tether began in 2012, when the programmer J. R. Willett [J. R. Wallet] proposed a solution for creating new cryptocurrencies based on bitcoin & mixing technology https://thebestbitcoinmixers.com. Based on this decision, the Mastercoin token was issued on July 31, 2013. In order to promote the Mastercoin protocol (later renamed the Omni Layer Protocol), the Mastercoin Foundation (later renamed the Omni Foundation) was created. One of the founders of the Mastercoin Foundation was the chairman of the Bitcoin Foundation, Brock Pierce ,and the CTO position was taken by programmer Craig Sellars.

In July 2014, Pierce, Sellers and Reeve Collins, an entrepreneur from the advertising industry, launched the Realcoin startup with headquarters in Santa Monica, USA. On October 6, 2014, the company issued Realcoin tokens based on bitcoin and using the Omni Layer protocol.

Shortly after, Tether Limited, a company registered in Hong Kong and the Isle of Man, announced the launch of a closed beta testing of three tokens: USTether (US ) for the US dollar, EuroTether (EU ) for the euro and YenTether (JP ) for the Japanese yen.

Tether also announced partnership agreements with the Hong Kong crypto exchange Bitfinex and three startups in which Brock Pierce participated: Expresscoin, GoCoin and ZenBox.

In January 2015, Bitfinex included Tether in the exchange's listing. Although representatives of Bitfinex and Tether stated that they were not related to each other, in November 2017, it turned out from leaked documents (Paradise Papers) that Bitfinex employees Philip Potter and Giancarlo Devasini founded the company Tether Holdings Limited in the British Virgin Islands.

According to the official website of Tether, the Hong Kong company Tether Limited is a subsidiary of Tether Holdings Limited.

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