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Tether Invests $200 Million in Whop, Valuing Marketplace at $1.6 Billion

TFN reports Tether’s $200 million deal with Whop, confirming plans to expand USDT payments to over 18 million users and boosting stablecoin adoption in consumer commerce.

USDT

Summary

Tether has invested $200 million in online marketplace Whop, valuing it at $1.6 billion. The amount was reported by TFN on Feb. 26, following Tether’s earlier announcement of a strategic investment without disclosing figures. CEO Steven Schwartz confirmed plans to integrate USDT payments for Whop’s 18.4 million users, marking a significant step toward mainstream stablecoin adoption in e-commerce.

Terms & Concepts
  • USDT: A U.S. dollar-pegged stablecoin issued by Tether, widely used for crypto trading and payments.
  • Stablecoin: A cryptocurrency designed to maintain a stable value, typically pegged to fiat currencies like the U.S. dollar.
  • X (formerly Twitter): A social media platform used for official announcements and market updates.