Tether Reintroduces Native Withdrawals Starting at Minimum of $100K

Tether has announced in a blog post that it will be reopening account verification for new customers and direct redemption of Tether to fiat from its redesigned native platform.

As one of the first stablecoins to enter the market, Tether (USDT) was launched in October 2014 to serve as a liquidity solution between multiple cryptocurrency exchanges, while protecting traders’/investors’ capital from volatility by being pegged to the US dollar.

The unexpected crypto boom late last year made Tether’s original model (involving direct redemption of fiat via its native platform) unsustainable. Tether then tapped into “the es…

This article appeared first on Cryptovest

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