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Tether (USDT) was introduced in 2014 by Tether Limited, a company operating under the umbrella of iFinex Inc., the parent company of cryptocurrency exchange Bitfinex. Initially, Tether was launched on the Bitcoin blockchain using the Omni Layer Protocol, which allows for the creation of assets on top of the Bitcoin network. The main goal of Tether was to create a digital representation of traditional fiat currencies that could be utilized on various cryptocurrency exchanges.

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