# Tether Stablecoin Issuer — Licences, Reserves & Compliance Score | StableRadar

> Tether: stablecoin issuer profile with licences checked against regulator registers, reserves, attestations, official partners and Regulatory Compliance Score.

Canonical: https://stableradar.com/issuer/tether
Generated: 2026-10-26T08:34:16.272Z (live figures are a snapshot at build time; see the canonical page for current values)

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**In short:** Tether issues USDT (issuing entity: Tether Operations, S.A. de C.V. / Tether International, S.A. de C.V. (El Salvador); parent Tether Holdings Ltd (BVI)). Headquarters: San Salvador, El Salvador (relocated Jan 2025). Status: Active. Licences on record: 3 (1 authorised; 0 confirmed on a regulator's official public register). Reserve reports: quarterly (BDO (Italia)). Reference data as of 2026-10-26.

# Tether Not verified
Tether Operations, S.A. de C.V. / Tether International, S.A. de C.V. (El Salvador); parent Tether Holdings Ltd (BVI)

Status Active

Verification Verified

Coverage Partial

Licences **1 / 3**

SRS **57**

Profile as of **2026-10-26**

Regulatory Compliance Score

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

Not legal advice; algorithmic assessment from public sources.

USDT peg · 7 days

Pins: computed 7d high/low. No reference events dated within this window.

Peg deviation (live)

-7.5 bps

Supply 30d → now (DefiLlama)

$182.29B

24h volume (CoinGecko)

$32.74B

Chains with supply

130

### Company
- HQ **San Salvador, El Salvador (relocated Jan 2025)**

- Founded **2014**

- Leadership **Paolo Ardoino (CEO since Dec 2023)**

- Model **Asset-backed (T-bills, repo, gold, BTC, loans)**

- Website **tether.to ↗**

### Products & supply LIVE
- USDT **$182.36B · -7.5 bps**

- Total (CoinGecko) **$182.36B**

30d ago

$183.61B

7d ago

$183.40B

1d ago

$182.42B

now

$182.29B

### Distribution
Tron

$92.37B

50.7%

Ethereum

$72.55B

39.8%

BSC

$9.18B

5.0%

Solana

$2.86B

1.6%

Arbitrum

$818.5M

0.4%

Polygon

$744.0M

0.4%

Plasma

$724.0M

0.4%

TON

$490.3M

0.3%

Aptos

$466.5M

0.3%

Mantle

$447.3M

0.2%

Supply by chain · DefiLlama (live)

### Products REFERENCE · issuer official site · as of 2026-10-26
- **USD₮**USD stablecoin [tether.to ↗](https://tether.to/)[source · 2026-10-26](https://tether.io/)

- **Tether Gold (XAU₮)**Gold-backed token [gold.tether.to ↗](https://gold.tether.to/)[source · 2026-10-26](https://tether.io/)

- **Wallet Development Kit**Self-custodial wallet SDK [wdk.tether.io ↗](https://wdk.tether.io/)[source · 2026-10-26](https://tether.io/)

- **Hadron**Asset tokenization platform [hadron.tether.to ↗](https://hadron.tether.to/)[source · 2026-10-26](https://tether.io/)

### Official partners (0) REFERENCE · issuer official site · as of 2026-10-26
Checked: No partner list: tether.to links to Supported Protocols (blockchains, not partners); its “Access the Global USD₮ Ecosystem” call-to-action had no resolvable link.

### Licences & authorisations worldwide (3 · 0 ✓ verified on register) REFERENCE · regulator registers / issuer disclosures · as of 2026-10-26
| Jurisdiction | Regulator | Licence / status detail | Date | Status | Evidence |
| --- | --- | --- | --- | --- | --- |
| **SV** | CNAD (El Salvador) | Digital Asset Service Provider / stablecoin issuer licence | Dec 2024 – Jan 2025 | Authorized | [Reported](https://cnad.gob.sv/) |
| **EU** | — | MiCA EMT authorisation | — | Not authorised — USDT restricted for EEA retail on major CASPs | [Reported](https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica) |
| **US** | OCC | USA₮ issued separately by Anchorage Digital Bank N.A. (OCC) — not Tether | 2026 | Not Applicable | [Reported](https://www.anchorage.com/press-room/anchorage-digital-tether-introduce-usat) |

### Reserves, custody & attestation
- Assurance **Quarterly attestation by BDO (not a full audit)**

- Audit / attestation firm **BDO (Italia)**

- Frequency **Quarterly**

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

- Custodians **Cantor Fitzgerald (custodian of most US Treasury holdings, per Cantor CEO, Jan 2024 — Bloomberg)**

- Latest disclosed **Q2 2026: assets $187.75B, liabilities $183.64B, excess reserves $4.11B (as of 30 Jun 2026)**

- Evidence **report ↗**

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

### Controls: freeze / clawback / admin
- freeze **addBlackList on ETH/Tron and other chains**

- clawback **destroyBlackFunds (burns frozen balance)**

- multisig **Multisig owner (ETH)**

- upgrade **Upgradeable on several chains**

### Frozen / blacklisted / seized
| Metric | Value | Source | As of |
| --- | --- | --- | --- |
| Wallets frozen (7 chains) | **12,242** | [Eagle Virtual ↗](https://eaglevirtual.com/learn/how-many-wallets-has-tether-frozen) | 2026-10-25 |
| Seize events (balance destroyed) | **2,577** | [Eagle Virtual ↗](https://eaglevirtual.com/learn/tether-vs-circle-policies) | 2026-10-25 |
| Total USDT frozen (ETH+Tron) | **$5.69B · 9,597 addresses** | [BlockSec tracker ↗](https://blocksec.com/blog/usdt-freeze-stablecoin-compliance-guide) | 2026-07-26 |
| Frozen (issuer statement) | **>$5B** | [Tether ↗](https://tether.io/news/tether-has-supported-nearly-550-million-in-iran-linked-usdt-freezes-as-u-s-expands-sanctions-campaign/) | 2026-09-28 |

Ethereum contract events — last ~4,900 blocks (~16 h)

0 blacklist events in blocks 26,270,797–26,275,697 · checked 0s ago

Public RPC (publicnode) limits range; full history needs an indexer. Other chains (Tron etc.) not queried live.

### Government & public sector partnerships (3) REFERENCE · issuer newsroom / official government sites · as of 2026-10-26
- **🇨🇭 City of Lugano****Plan ₿ (2022) → Phase II 2026–2030** — Renewed MoU: up to CHF 5M in-kind contribution for digital infrastructure, resilience and training; bitcoin/stablecoin payments in municipal life MoU 2026-03-03 [official source ↗](https://planb.lugano.ch/wp-content/uploads/2026/06/LVGA_Tether_Mou_EN.pdf)

- **🇺🇿 National Agency of Perspective Projects (NAPP)****Blockchain & P2P infrastructure** — MoU to support crypto legal framework, tokenisation, digital-currency payment infrastructure and education MoU 2024-03-07 [official source ↗](https://tether.io/news/tether-signs-mou-with-republic-of-uzbekistan-to-develop-blockchain-and-peer-to-peer-telecommunication-infrastructure-foster-innovation/)

- **🇬🇪 Government of Georgia****Blockchain & P2P infrastructure** — MoU to develop blockchain, bitcoin and peer-to-peer infrastructure MoU 2023-06-28 [official source ↗](https://tether.io/news/tether-signs-mou-with-government-of-georgia-to-develop-blockchain-bitcoin-and-peer-to-peer-infrastructure-to-foster-innovation/)

### Government & law-enforcement cooperation
- **Law-enforcement cooperation**Works with 340+ agencies in 70 countries; 2,850+ investigations; >$5B frozen incl. >$2.4B linked to US authorities (Tether, 28 Sep 2026) [source ↗](https://tether.io/news/tether-has-supported-nearly-550-million-in-iran-linked-usdt-freezes-as-u-s-expands-sanctions-campaign/)

- **OFAC / Iran**$344M frozen across 2 addresses with OFAC & US LE (23 Apr 2026); ~$550M Iran-linked frozen in 2026 [source ↗](https://tether.io/news/tether-supports-freeze-of-more-than-344-million-in-usdt-in-coordination-with-ofac-and-u-s-law-enforcement/)

- **US DOJ / Secret Service / FBI**Dec 2023: onboarded US Secret Service and began onboarding the FBI to its platform; assists DOJ in investigations and victim recovery [source ↗](https://tether.io/news/tether-assists-the-us-doj-and-us-secret-service-in-criminal-investigations-and-victim-recovery/)

### Regulatory actions & enforcement history
Resolved

CFTC order — misleading reserve statements, $41M civil penalty

Resolved

New York AG settlement — $18.5M, reserve representations

### AI-agent payments
No public info.

### Partners
BDO (attestation)

Anchorage Digital (USA₮ issuer)

Reference fields compiled 2026-10-26 from linked sources. Items marked “verify” or “per issuer” are not independently confirmed. Not legal or investment advice.

Last updated: 2026-10-26 08:33 UTC (live data) · reference data as of 2026-10-26 · Sources: Regulator public registers & issuer disclosures (linked per item), [CoinGecko](https://www.coingecko.com/), [DefiLlama](https://defillama.com/stablecoins)