$USDC Tether bases its foundation on blockchain technology, like all crypto assets. However, they differ as these tokens get funded by an equivalent quantity of a currency (for example, US dollars) while being dubbed a ‘stable coin.’ A stable coin works in tandem with the traditional money issued by banks, such as USD, Japanese Yen, and Euros. One Tether token is fixed at USD 1, and both are equally valuable as they represent a 1:1 ratio. Tether tokens were first traded in February 2015 and developed by a crypto exchange known as ‘Bitfinex. Initially, the token traded under ‘RealCoin,’ which was then renamed ‘Tether,’ as we know it today. It is essential to know that though Tether holds an equivalent value to fiat currency, it cannot be exchanged for cash itself and can be traded only in the digital world.