# Tether (USDT): Live Peg, Issuer & Licences

> Tether (USDT) stablecoin: live USD peg deviation in bps, depeg history, issuer Tether, licences linked to official registers, reserves and FAQ.

Canonical: https://stableradar.com/coin/usdt
Generated: 2026-11-13T12:43:32.455Z (live figures are a snapshot at build time; see the canonical page for current values)

Stablecoin profile LIVE

# Tether (USDT) stablecoin
**In short:** USDT is a USD-pegged stablecoin issued by Tether. Token authorisation on record: El Salvador (CNAD). Below: live peg deviation, peg history, issuer, licences and FAQ.

[Issuer profile → Tether](https://stableradar.com/issuer/tether)

$0.9992

Peg target: $1.0000 (USD)

On peg

Deviation: **-8.3 bps** (-0.08%) · Market cap: $175.58B

Sources: CoinGecko, DefiLlama · [CoinGecko ↗](https://www.coingecko.com/en/coins/tether) · Median of the available sources, refreshed in your browser. A deviation here is not a confirmed depeg.

### Token legal status
USDT

Regulator-confirmed token authorisation

(1) Entity licence / registration

Tether International, S.A. de C.V.

CNAD · Digital asset service provider (PSAD register) · PSAD-0028

cnad.gob.sv ↗

Tether International, S.A. de C.V.

CNAD · Stablecoin issuer (issuer register) · EME-0003

cnad.gob.sv ↗

Tether International S.A. de C.V.

FinCEN · Money services business (money transmitter) · MSB 31000292945094

msb.fincen.gov ↗

A FinCEN registration, not a licence or an endorsement (FinCEN: inclusion is not a recommendation, certification of legitimacy, or endorsement). Other registrants named “Gold-Tether” and “tether-xaut” are not included.

(2) Authorisation to issue this token

El Salvador (CNAD)

CNAD stablecoin list: USDT — Tether International S.A. de C.V. — public offering (Oferta pública CNAD) ME-0003, 19/05/2025, Admisible

cnad.gob.sv ↗

U.S. context

Foreign issuer; no Treasury comparability determination as of 27 Oct 2026

(3) Applicable law

El Salvador Ley de Emisión de Activos Digitales (LEAD) — CNAD legal framework ↗

GENIUS Act — OCC final rule FR 2026-21706 (effective 18 Jan 2027) ↗

Related records

source ↗

Token legal status last checked: 13 Nov 2026

### Issuer & legal entity
- Issuer **Tether**

- Legal entity Tether International, S.A. de C.V.

- Headquarters San Salvador, El Salvador (relocated Jan 2025)

- Backing mechanism Asset-backed (T-bills, repo, gold, BTC, loans)

- Reserve mix ~80% US Treasuries + repo, cash, gold (>146 t), BTC, secured loans, other (per Tether)

- Reserves & attestation Quarterly attestation by BDO (ISAE 3000); FY2025 financial statements of Tether International audited by KPMG U.S. with an unqualified opinion, 13 Aug 2026 (per Tether; audit report not published) [assets.ctfassets.net ↗](https://assets.ctfassets.net/vyse88cgwfbl/7nQYtcoP9GxIUFSyro2dGK/8d0521470b9e99c8c0831019cabea4ee/ISAE_3000R_-_Opinion_Tether_International_Financial_Figure_30-09-2026.pdf)

- Custody Cantor Fitzgerald — custodian of most US Treasury holdings (per Cantor’s then-CEO, Jan 2024, Bloomberg interview); US Senate PSI Minority letter to Cantor, 8 Oct 2026: “the vast majority of its assets reside in the United States under your custodianship” (a request for information, not a finding) [hsgac.senate.gov ↗](https://www.hsgac.senate.gov/wp-content/uploads/2026-10-08-Letter-from-Sen-Blumenthal-to-Chairman-Lutnick.pdf)

- Redemption Direct redemption for verified customers; minimum and fees apply (see tether.to fees)

Transparency Score (issuer)

Transparency Score

Weighted from public, sourced inputs · 94% of inputs available

Not legal advice; algorithmic assessment from public sources.

Our opinion based on public data as of 12 Nov 2026. Not a regulatory decision or a credit rating.

[Issuer profile → Tether](https://stableradar.com/issuer/tether)

### Issuer licences, registrations & token status
Issuer-level records from the Tether profile; each row links to the official register or source.

| Jurisdiction | Record | Status | Source |
| --- | --- | --- | --- |
| AE-ADGM | Accepted Fiat-Referenced Token(s) for use in ADGM: USDT — FSRA Consolidated List of Accepted FRTs (1 Sep 2026). Accepted for use; not an issuance licence · FSRA (ADGM) | Accepted1 Sep 2026 | [Verified](https://assets.adgm.com/download/assets/AFRT+List+Sep+2026.pdf/c1b34426b88e11f0912ade26907f67ec) |
| SV | Tether International, S.A. de C.V. — CNAD public register of digital asset service providers (PSAD), PSAD-0028, vigente; registered 16 Aug 2024 · CNAD (El Salvador) | Registered16 Aug 2024 (PSAD-0028) | [Verified](https://cnad.gob.sv/es/registro-publico-psad/) |
| SV | Tether International, S.A. de C.V. — CNAD public register of stablecoin issuers, EME-0003, vigente (19 May 2025). Token status: USDT on the CNAD stablecoin list, public offering ME-0003, Admisible (19 May 2025) · CNAD (El Salvador) | Authorized19 May 2025 (EME-0003) | [Verified](https://cnad.gob.sv/es/registro-publico-emisores/) |
| US | Tether International S.A. de C.V. — FinCEN money services business registration (money transmitter), MSB 31000292945094, filed 16 Feb 2025. A registration, not a licence or an endorsement (per FinCEN) · FinCEN | Registered16 Feb 2025 | [Verified](https://msb.fincen.gov/) |
| EU | MiCA EMT authorisation — no USDT / Tether row in the ESMA interim MiCA register of e-money token white papers (EMTWP.csv), checked 2026-11-13. ESMA statement of 17 Jan 2025: CASPs to stop offering non-MiCA-compliant EMTs to the public (sell-only allowed until end of Q1 2025) · ESMA | Not authorisedchecked 13 Nov 2026 | [Verified](https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv) |

### USDT peg history
Max deviation from the peg, time spent outside ±50 / ±100 bps and derived events per window. 24h: CoinGecko 5-minute prices; 7d, 30d, 90d: hourly; 1y: daily. Cached at build time.

| Favourites | Coin | Peg | Trend | Max |dev| | Low | >±50 bps | >±100 bps | Events | Details |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | **USDT** | USD |  | −19.5 bps | 0.9980 | 0 | 0 | 0 |  |

Source: [CoinGecko ↗](https://www.coingecko.com/), [DefiLlama ↗](https://defillama.com/stablecoins) · market data cached 13 Nov 2026, 11:28 UTC. Aggregated prices can move on thin markets; a deviation here is not a confirmed depeg.

### USDT supply by chain
Current circulating supply per chain from the DefiLlama stablecoins API (cached at build time). Per-chain or DEX prices are not shown: no free source covers them reliably.

| Chain | Supply | Share of supply |
| --- | --- | --- |
| Tron | $92.07B | 52.5% |
| Ethereum | $66.64B | 38.0% |
| BSC | $9.18B | 5.2% |
| Solana | $2.10B | 1.2% |
| Plasma | $1.07B | 0.6% |
| Arbitrum | $829.2M | 0.5% |
| Polygon | $701.9M | 0.4% |
| TON | $500.8M | 0.3% |
| Mantle | $433.0M | 0.2% |
| Aptos | $386.9M | 0.2% |
| Avalanche | $316.2M | 0.2% |
| OP Mainnet | $209.7M | 0.1% |
| Kaia | $187.9M | 0.1% |
| X Layer | $117.5M | 0.1% |
| Celo | $83.9M | 0.0% |

Source: [DefiLlama ↗](https://defillama.com/stablecoins)

### FAQ about USDT
#### What is Tether (USDT)?
USDT is a stablecoin pegged to the US dollar. Issuer: Tether. Backing (as described in our data): Asset-backed (T-bills, repo, gold, BTC, loans).

#### Who issues USDT?
USDT is issued by Tether International, S.A. de C.V. The issuer profile on StableRadar lists its licences with links to official registers.

#### Is USDT authorised under MiCA or another stablecoin regime?
A regulator-confirmed token authorisation is on record: El Salvador (CNAD). Register record: CNAD stablecoin list: USDT — Tether International S.A. de C.V. — public offering (Oferta pública CNAD) ME-0003, 19/05/2025, Admisible. Applicable law noted: El Salvador Ley de Emisión de Activos Digitales (LEAD) — CNAD legal framework; GENIUS Act — OCC final rule FR 2026-21706 (effective 18 Jan 2027). US context: under the GENIUS Act only approved (permitted) payment stablecoin issuers may issue payment stablecoins in the US; the Act approves issuers, not individual tokens. It applies from 18 Jan 2027 (OCC final rule FR 2026-21706).

#### Is USDT safe?
StableRadar does not say whether a coin is safe and does not give investment advice. In our opinion, based on public data as of 12 Nov 2026, the issuer Tether has a Transparency Score of 53/100. This is not a regulatory decision or a credit rating. The live peg deviation and the official register links are on this page.

#### How is USDT backed?
Model: Asset-backed (T-bills, repo, gold, BTC, loans). Reserve mix: ~80% US Treasuries + repo, cash, gold (>146 t), BTC, secured loans, other (per Tether). Attestation: Quarterly attestation by BDO (ISAE 3000); FY2025 financial statements of Tether International audited by KPMG U.S. with an unqualified opinion, 13 Aug 2026 (per Tether; audit report not published).

### Related pages
Issuer profile → Tether

USDT × country checker: US

USDT × country checker: DE

USDT × country checker: FR

Stablecoin laws by country

News & depeg incidents

Live peg monitor

All stablecoins

Issuer ranking

Informational only: not legal, investment or compliance advice. Company statements are marked “per company”.

Live prices: 13 Nov 2026, 12:43 UTC · Issuer reference data reviewed: 26 Oct 2026 (later changes are dated on each row) · Sources: [Issuer transparency / reserves (Tether)](https://assets.ctfassets.net/vyse88cgwfbl/7nQYtcoP9GxIUFSyro2dGK/8d0521470b9e99c8c0831019cabea4ee/ISAE_3000R_-_Opinion_Tether_International_Financial_Figure_30-09-2026.pdf), [DefiLlama · USDT](https://defillama.com/stablecoin/tether), [CoinGecko · USDT](https://www.coingecko.com/en/coins/tether), [DefiLlama · Tron stablecoins](https://defillama.com/stablecoins/Tron)

Data: [DefiLlama](https://defillama.com/) · Powered by [CoinGecko](https://www.coingecko.com/)