The USDT is a cryptocurrency issued by Tether that maintains 1:1 exchange rate with US dollar.
USDT provides a more stable rate which is not subject to cryptocurrency fluctuation, it has a hedging function that is similar to fiat money.
Tether claims that it’s issued USDT has equivalent ratio of cash reserve. Assuming Tether has 1 million USDT issuance, then Tether should have an equivalent value of 1 million US dollar as a reserve. Whether Tether really has an equivalent reserve, it remains unknown.
Following the step of Bitfinex, gate.io, MAX became the third exchange in the world to support both of Omni Layer and ERC20 Token.
MAX can automatically recognize the format while you withdraw USDT to other exchanges, on the other hand, you can choose the corresponding format to deposit USDT into MAX. It makes transfer easier as well as connects to worldwide major exchanges smoothly.
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PS: If you store USDT in MAX, we will only show a total number of the USDT regardless the formats.