What are the alternatives to Tether (USDT)?

There are lots of alternatives to Tether. Make sure you continue to do your research before investing in any of them. Here are some of the alternatives to Tether:

StablecoinDescription
USD Coin (USDC)USDC is a stablecoin that is issued by Circle and Coinbase. It is backed by US dollars that are held in reserve in FDIC-insured banks.
Binance USD (BUSD)BUSD is a stablecoin that is issued by Binance. It is backed by US dollars that are held in reserve in a variety of financial institutions.
TrueUSD (TUSD)TUSD is a stablecoin that is issued by TrustToken. It is backed by US dollars that are held in reserve in a variety of financial institutions.
Paxos Standard (PAX)PAX is a stablecoin that is issued by Paxos. It is backed by US dollars that are held in reserve in a variety of financial institutions.
DAIDAI is a decentralized stablecoin that is not backed by any fiat currency. It is instead backed by a basket of cryptocurrencies, including Ethereum, USDC, and Tether.

Here is a table showing the current (July 2023) market cap of some of the most popular stablecoins:

StablecoinMarket Cap (USD)
Tether (USDT)$70 billion
USD Coin (USDC)$50 billion
Binance USD (BUSD)$17 billion
TrueUSD (TUSD)$12 billion
Paxos Standard (PAX)$11 billion
DAI$10 billion

It is important to note that stablecoins are still a relatively new asset class and there is no guarantee that any of them will be successful in the long term. It is important to do your own research before investing in any stablecoin.