Tether (USDT) is a popular stablecoin whose value is pegged to the U.S. dollar. Tether protects users from the volatility of the cryptocurrency space by fixing the value of its cryptocurrency to the value of an established fiat currency. All USDT tokens are 100% backed by Tether’s reserves.
Although the original implementation of USDT was built over the bitcoin blockchain, there have been other implementations since then, including an ERC-20 version hosted on the Ethereum blockchain, which can be used in smart contracts or decentralized applications. The Blockchain.com Wallet supports the ERC-20 implementation.