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Deployments · platform by Tether

Tether USDt (USDT)Updated 7 Nov 2026

The largest dollar stablecoin, issued by Tether since 2014 and outstanding at roughly $184 billion in October 2026. Over half of it sits on TRON and most of the rest on Ethereum, with smaller balances on BNB Chain, Solana and dozens of other chains. Reserves are mainly US Treasury bills and reverse repo, plus gold, bitcoin and secured loans, reported through quarterly attestations rather than a full audit. Cantor Fitzgerald holds Treasury reserves. Tether moved its base to El Salvador in 2025 after obtaining a digital asset service provider licence there. USDT began on Bitcoin through the Omni Layer in 2014; Tether stopped minting there in 2023 and ended support in 2025, and has announced (not yet launched) a return to Bitcoin via Taproot Assets and RGB. It is also issued on Blockstream's Liquid sidechain.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (scaled) since 2014[5] · Reviewed 13d ago

Assets
Stablecoin[4]
US dollar stablecoin backed mainly by Treasury bills and reverse repo, plus gold, bitcoin and secured loans
Networks
TRON Public, permissionless[5]
Ethereum Public, permissionless[5]
BNB Chain Public, permissionless[5]
Solana Public, permissionless[5]
Arbitrum Public, permissionless[5]
Polygon Public, permissionless[5]
Plasma Public, permissionless[5]
TON Public, permissionless[5]
Mantle Public, permissionless[5]
Aptos Public, permissionless[5]
Optimism Public, permissionless[5]
Avalanche Public, permissionless[5]
Kaia Public, permissionless[5]
X Layer Public, permissionless[5]
Celo Public, permissionless[5]
Fantom Opera Public, permissionless[5]
Hyperliquid Public, permissionless[5]
Ink Public, permissionless[5]
Monad Public, permissionless[5]
Kava Public, permissionless[5]
NEAR Protocol Public, permissionless[5]
Tempo Public, permissioned[5]
Sui Public, permissionless[5]
Starknet Public, permissionless[5]
ZKsync Public, permissionless[5]
Sei Public, permissionless[5]
Unichain Public, permissionless[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
Stable Public, permissioned[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
Berachain Public, permissionless[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
Hedera Public, permissioned[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
Stellar Public, permissionless[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
Morph Public, permissionless[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
MegaETH Public, permissionless[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
Rootstock Public, permissionless[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
Flare Public, permissionless[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
Conflux eSpace Public, permissionless[16]
USDT0 (locked on Ethereum, minted here via LayerZero OFT).
IOTA Public, permissionless[16]
USDT0 on IOTA L1 over a dedicated LayerZero route paired with Ethereum only; not connected to other USDT0 chains.
Liquid Network Public, permissioned[6][9]
Native USDT issued by Tether on Blockstream's Liquid sidechain since June 2019; listed by Tether as a currently supported protocol.
Bitcoin Public, permissionless[10][8][15][5]
Legacy: USDT on the Omni Layer (property 31) on Bitcoin from October 2014. Minting stopped 17 Aug 2023 and Tether ended issuance and redemption on 1 Sep 2025; the tokens can still be transferred but are no longer officially supported. USDT via Taproot Assets (announced Jan 2025) and RGB (announced Aug 2025) is not on Tether's supported list as of Oct 2026.
Use cases
Primary issuance[5]
Jurisdictions
El Salvador, Global

Participants

Assets

Moves across networks

  • viaLayerZeroEthereum ↔ Arbitrum ↔ Polygon ↔ Plasma ↔ Mantle ↔ Optimism ↔ X Layer ↔ Hyperliquid ↔ Ink ↔ Monad ↔ Tempo ↔ Sei ↔ Unichain ↔ Stable ↔ Berachain ↔ Hedera ↔ Stellar ↔ Morph ↔ MegaETH ↔ Rootstock ↔ Flare ↔ Conflux eSpace[16][17]Via USDT0: USDT locked on Ethereum, USDT0 minted on the destination with LayerZero's OFT standard and DVN verification.

Metrics

  • ~$184.29bnTokens in circulation · as of 11 Oct 2026[5]
    On-chain via DefiLlama; sum of its per-chain balances.
  • ~$93.35bnTokens in circulation · as of 11 Oct 2026 · on TRON[5]
    On-chain via DefiLlama.
  • ~$73.17bnTokens in circulation · as of 11 Oct 2026 · on Ethereum[5]
    On-chain via DefiLlama.
  • ~$9.18bnTokens in circulation · as of 11 Oct 2026 · on BNB Chain[5]
    On-chain via DefiLlama.
  • ~$2.87bnTokens in circulation · as of 11 Oct 2026 · on Solana[5]
    On-chain via DefiLlama.
  • ~$829.35mTokens in circulation · as of 11 Oct 2026 · on Arbitrum[5]
    On-chain via DefiLlama.
  • ~$788.77mTokens in circulation · as of 11 Oct 2026 · on Polygon[5]
    On-chain via DefiLlama.
  • ~$784.45mTokens in circulation · as of 11 Oct 2026 · on Plasma[5]
    On-chain via DefiLlama.
  • ~$550.79mTokens in circulation · as of 11 Oct 2026 · on TON[5]
    On-chain via DefiLlama.
  • ~$443.97mTokens in circulation · as of 11 Oct 2026 · on Mantle[5]
    On-chain via DefiLlama.
  • ~$431.98mTokens in circulation · as of 11 Oct 2026 · on Aptos[5]
    On-chain via DefiLlama.
  • ~$419.42mTokens in circulation · as of 11 Oct 2026 · on Optimism[5]
    On-chain via DefiLlama.
  • ~$321.26mTokens in circulation · as of 11 Oct 2026 · on Avalanche[5]
    On-chain via DefiLlama.
  • ~$203.67mTokens in circulation · as of 11 Oct 2026 · on Kaia[5]
    On-chain via DefiLlama.
  • ~$111.53mTokens in circulation · as of 11 Oct 2026 · on X Layer[5]
    On-chain via DefiLlama.
  • ~$83.92mTokens in circulation · as of 11 Oct 2026 · on Celo[5]
    On-chain via DefiLlama.
  • ~$82.96mTokens in circulation · as of 11 Oct 2026 · on Fantom Opera[5]
    On-chain via DefiLlama. Bridged USDT counted by DefiLlama.
  • ~$68.2mTokens in circulation · as of 11 Oct 2026 · on Hyperliquid[5]
    On-chain via DefiLlama.
  • ~$57.27mTokens in circulation · as of 11 Oct 2026 · on Ink[5]
    On-chain via DefiLlama.
  • ~$54.09mTokens in circulation · as of 11 Oct 2026 · on Monad[5]
    On-chain via DefiLlama.
  • ~$50.14mTokens in circulation · as of 11 Oct 2026 · on Kava[5]
    On-chain via DefiLlama. May include bridged USDT counted by DefiLlama.
  • ~$80.04mTokens in circulation · as of 14 Oct 2026 · on Bitcoin[5][7]
    Legacy USDT on the Omni Layer, on chain via DefiLlama (its 'Omni' chain); no longer issued or redeemed by Tether since 1 Sep 2025, but still counted in Tether's own per-chain supply figures.
  • ~$33.71mTokens in circulation · as of 15 Oct 2026 · on Liquid Network[7]
    Tether's own figures: 97.56m USDT created on Liquid less 63.85m held unissued in Tether's treasury. DefiLlama does not track Liquid.
  • ~$184.6bnTokens in circulation · as of 30 Jun 2026[4]
    From Tether's Q2 2026 attestation as reported by ForkLog.
  • ~$187.75bnReserve assets · as of 30 Jun 2026context[4]
    Total issuer assets per the Q2 2026 attestation; off-chain, not counted in totals.
  • ~$177bnSupply on chain (daily) · as of 7 Nov 2026[21]
    Automated daily reading of on-chain supply across all chains.
  • ~$2.68mSupply on chain (daily) · as of 7 Nov 2026 · on Starknet[21]
    Automated daily reading.
  • ~$92.3bnSupply on chain (daily) · as of 7 Nov 2026 · on TRON[21]
    Automated daily reading.
  • ~$35.09mSupply on chain (daily) · as of 7 Nov 2026 · on Monad[21]
    Automated daily reading.
  • ~$356.95mSupply on chain (daily) · as of 7 Nov 2026 · on Aptos[21]
    Automated daily reading.
  • ~$33,172Supply on chain (daily) · as of 7 Nov 2026 · on Hedera[21]
    Automated daily reading.
  • ~$776.39mSupply on chain (daily) · as of 7 Nov 2026 · on Polygon[21]
    Automated daily reading.
  • ~$30.16mSupply on chain (daily) · as of 7 Nov 2026 · on Kava[21]
    Automated daily reading.
  • ~$46.43mSupply on chain (daily) · as of 7 Nov 2026 · on Ink[21]
    Automated daily reading.
  • ~$187.97mSupply on chain (daily) · as of 7 Nov 2026 · on Kaia[21]
    Automated daily reading.
  • ~$67.66bnSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum[21]
    Automated daily reading.
  • ~$194.79mSupply on chain (daily) · as of 7 Nov 2026 · on Optimism[21]
    Automated daily reading.
  • ~$9.18bnSupply on chain (daily) · as of 7 Nov 2026 · on BNB Chain[21]
    Automated daily reading.
  • ~$386.18mSupply on chain (daily) · as of 7 Nov 2026 · on Avalanche[21]
    Automated daily reading.
  • ~$812.73mSupply on chain (daily) · as of 7 Nov 2026 · on Arbitrum[21]
    Automated daily reading.
  • ~$8.04mSupply on chain (daily) · as of 7 Nov 2026 · on Sui[21]
    Automated daily reading.
  • ~$888.77mSupply on chain (daily) · as of 7 Nov 2026 · on Plasma[21]
    Automated daily reading.
  • ~$500.79mSupply on chain (daily) · as of 7 Nov 2026 · on TON[21]
    Automated daily reading.
  • ~$2.18mSupply on chain (daily) · as of 7 Nov 2026 · on ZKsync[21]
    Automated daily reading.
  • ~$1.51mSupply on chain (daily) · as of 7 Nov 2026 · on Sei[21]
    Automated daily reading.
  • ~$130.97mSupply on chain (daily) · as of 7 Nov 2026 · on X Layer[21]
    Automated daily reading.
  • ~$80.04mSupply on chain (daily) · as of 7 Nov 2026 · on Bitcoin[21]
    Automated daily reading.
  • ~$83.92mSupply on chain (daily) · as of 7 Nov 2026 · on Celo[21]
    Automated daily reading.
  • ~$82.96mSupply on chain (daily) · as of 7 Nov 2026 · on Fantom Opera[21]
    Automated daily reading.
  • ~$56.74mSupply on chain (daily) · as of 7 Nov 2026 · on Hyperliquid[21]
    Automated daily reading.
  • ~$438.05mSupply on chain (daily) · as of 7 Nov 2026 · on Mantle[21]
    Automated daily reading.
  • ~$39.45mSupply on chain (daily) · as of 7 Nov 2026 · on NEAR Protocol[21]
    Automated daily reading.
  • ~$2.44bnSupply on chain (daily) · as of 7 Nov 2026 · on Solana[21]
    Automated daily reading.
  • ~$8.14mSupply on chain (daily) · as of 7 Nov 2026 · on Tempo[21]
    Automated daily reading.

Timeline

  1. Happened 31 Jul 2026 · Volume milestone · recorded 11 Oct 2026
    Q2 2026 attestation shows about $184.6 billion USDT outstanding against $187.75 billion of reserve assets, with the excess buffer halving to $4.1 billion.[4]
  2. Happened 29 Aug 2025 · Announcement · recorded 15 Oct 2026
    Tether revises the legacy-chain plan, deciding not to freeze tokens on the five chains; from 1 September 2025 it no longer issues or redeems USDT there, but holders can still transfer them.[15]
  3. Happened 28 Aug 2025 · Announcement · recorded 15 Oct 2026
    Tether announces plans to issue USDT on RGB, a Bitcoin asset protocol that had just reached mainnet; no launch date given.[14]
  4. Happened 11 Jul 2025 · Announcement · recorded 15 Oct 2026
    Tether says it will end USDT redemptions and freeze remaining tokens on Omni, Bitcoin Cash SLP, Kusama, EOS and Algorand from 1 September 2025.[13]
  5. Happened 30 Jan 2025 · Announcement · recorded 15 Oct 2026
    Tether and Lightning Labs announce plans to bring USDT to Bitcoin's base layer and the Lightning Network using the Taproot Assets protocol; no launch date given.[11][12]
  6. Happened 13 Jan 2025 · Regulatory approval · recorded 11 Oct 2026
    Tether says it will move its headquarters to El Salvador after obtaining a digital asset service provider licence there.[2]
  7. Happened 17 Aug 2023 · Announcement · recorded 15 Oct 2026
    Tether stops minting USDT on the Omni Layer (Bitcoin), Kusama and Bitcoin Cash SLP, citing weak demand, while keeping redemptions open for at least 12 months; it says it will return to Bitcoin through RGB.[10]
  8. Happened 28 Jun 2019 · Scope expansion · recorded 15 Oct 2026
    First issuance of USDT on Blockstream's Liquid sidechain, recorded on chain with tether.to as the issuer domain.[9]
  9. Happened 6 Oct 2014 · First transaction · recorded 15 Oct 2026
    Tether creates its US dollar token (TetherUS, property 31) on the Omni Layer, which runs on top of Bitcoin; Omni was the first transport layer USDT used.[8][10]
  10. Happened 2014 (year only) · Launch · recorded 11 Oct 2026
    Tether launches the first fiat-pegged stablecoin.[5]

Sources

  1. [1]Tether transparency — Tether. Accessed 11 Oct 2026.B
  2. [2]Tether to relocate global headquarters to Bitcoin-friendly El Salvador — CryptoSlate, 13 Jan 2025. Accessed 11 Oct 2026.C
  3. [3]Cantor Fitzgerald CEO on Tether reserves — The Block, Jan 2024. Accessed 11 Oct 2026.C
  4. [4]Tether's excess reserves halve in Q2 — ForkLog, Aug 2026. Accessed 11 Oct 2026.C
  5. [5]USDT stablecoin data (API) — DefiLlama, 11 Oct 2026. Accessed 11 Oct 2026.A
  6. [6]Supported Protocols and Integration Guidelines — Tether. Accessed 15 Oct 2026. Lists Liquid as a current protocol with its asset ID; lists Omni on Bitcoin as deprecated (property 31, kept for reference only). No Taproot Assets or RGB entry..B
  7. [7]Tether transparency data (JSON feed behind tether.to/en/transparency) — Tether. Accessed 15 Oct 2026. Per-chain total tokens, unissued treasury balance and quarantined tokens; read 15 Oct 2026..B
  8. [8]Omni property 31 (TetherUS) — OmniExplorer. Accessed 15 Oct 2026. On-chain record of the TetherUS property, created in Bitcoin block 324140 on 6 Oct 2014 with managed issuance and tether.to as its URL..A
  9. [9]Liquid asset ce091c99... (Tether USD, USDt) — Blockstream Explorer. Accessed 15 Oct 2026. First issuance confirmed in Liquid block 365526 on 28 Jun 2019; issuer domain tether.to; 12 issuances..A
  10. [10]Tether Makes Strategic Transition, to Meet Community Demands and Foster Innovation — Tether, 6 Aug 2023. Accessed 15 Oct 2026. Site dates the post 6 Aug 2023; the text says minting stops "from today, 17th August 2023"..B
  11. [11]Tether Brings USDt to Bitcoin's Lightning Network, Ushering in a New Era of Unstoppable Technology — Tether, 30 Jan 2025. Accessed 15 Oct 2026.B
  12. [12]A New Era for Stablecoins: Tether Is Coming to Bitcoin and Lightning — Lightning Labs, 30 Jan 2025. Accessed 15 Oct 2026.B
  13. [13]Tether to Wind Down USD₮ Support for Five Legacy Blockchains as Part of Strategic Infrastructure Review — Tether, 11 Jul 2025. Accessed 15 Oct 2026.B
  14. [14]Tether to Launch USD₮ on RGB, Expanding Native Bitcoin Stablecoin Support — Tether, 28 Aug 2025. Accessed 15 Oct 2026.B
  15. [15]Tether Provides Update on Transition Plan for Legacy Blockchains — Tether, 29 Aug 2025. Accessed 15 Oct 2026.B
  16. [16]Contract Deployments | USDT0 Docs — USDT0. Accessed 18 Oct 2026. USDT0 is a lock-and-mint product: USDT is locked in an OFT adapter on Ethereum and USDT0 minted on 24 networks. Operator's docs, not Tether's..B
  17. [17]Technical Documentation | USDT0 Docs — USDT0. Accessed 13 Oct 2026.B
  18. [18]Tether Announces Alignment With Top Five Accounting Firm And Confirms Attestations Will Now Be Completed By BDO Italia — Tether, 18 Aug 2022. Accessed 28 Oct 2026.B
  19. [19]Tether Posts Strong Q2 Performance, Generates $1.5B Net Operating Profit, Maintains $4.11B Reserve Buffer, and Expands Gold Holdings to More Than 146 Tons — Tether, 31 Jul 2026. Accessed 28 Oct 2026.B
  20. [20]Tether Completes the Largest Inaugural Financial Audit in History — Tether, 13 Aug 2026. Accessed 28 Oct 2026.B
  21. [21]Supply by chain, read daily — DefiLlama (automated daily refresh). Accessed 7 Nov 2026.A

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