Tether is a digital asset that aims to simplify the trading and exchange of digital currencies to fiat. It combines blockchain technology with the stability of traditional currency to provide a digital asset that holds nearly exactly the same value as the United States Dollar. Every Tether is backed 1-to-1 with USD, meaning that for each and every Tether in existence there is one USD backing it. It aims to allow easy integration into exchanges to make the trading of digital to fiat pairs much easier. Tether is also as transparent as possible, running on public and open blockchain technologies and publishing daily reserve holdings reports. However, it doesn’t have a blockchain of its own but rather depends on APIs for integration.