Fiat-Backed Cryptocurrencies Explained (USD₮, EUR₮, JPY₮)
Tether is a cryptocurrency pegged to traditional fiat currencies and backed 1:1 by reserves of these traditional currencies held in accounts under Tether’s control. There are currently Tether tokens backed by US Dollars (denoted by the symbol USD₮) and by Euros (denoted by EUR₮). A Tether token pegged to the Japanese Yen (JPY₮) is on […]