Being digital currencies without any physical existence, decentralized as well as free from intermediaries such as a bank, no wonder that the use of cryptocurrency and its popularity among investors from all parts of the world is increasing rapidly and exceptionally. However, due to these digital assets free from any government or central bank control, the authorities in many parts of the world where the crypto is used very often are stressing upon the need to frame rules and regulations. The reasons for such decision was due to the assumption that cryptocurrency is a perfect source of laundering money and to fund criminals and terrorist activities.
A newly launched cryptocurrency called Tether, developed by Tether Limited, which is a Hong Kong-based company, is getting a lot of attention amongst the crypto investors these days. Being considerably from its traditional rival, Bitcoin, Ether soon emerged on the horizon and was able to succeed much larger presence in the crypto industry over Bitcoin.
Tether has also developed its own coin called Stablecoin, which is yet another one of the most popular coins available for trading. In another story, it has been reported that Tether has swapped its USDT coins worth over US$ 1 billion earlier this month from Tron to Ethereumblockchain. Another swap from Tron to Ethereum of the same amount is expected to take place very soon.
Tether Limited has pegged the value of each stablecoin with one US$ which means that any person who wishes to buy 1 Tether will pay an amount of US$ 1/- only to the Tether Limited.
A large number of people are also concerned whether Tether Limited has enough dollars in its pocket to cater to the growing demand of Tether all over the world, however, still, the number of Tether transactions have been increasing every day.
However, there is a growing threat that criminals from the origin of China are using Tether for smuggling purposes and the fact that each stablecoin contains a value of 1 US dollar therefore there is a growing apprehension that it could be used as sources for cross-border transactions.