The investment will bring Tether\u2019s wallet tools to millions of users. <\/p>\n
Stablecoin issuer Tether<\/a> has made a $200 million strategic investment in Whop, an online marketplace, as it looks to expand stablecoin payments into more real-world use cases.<\/p>\n Tether\u2019s USDT stablecoin currently has a market cap of about $183 billion, according to DeFiLlama data, making it the largest circulating stablecoin worldwide.<\/p>\n Whop co-founder Steven Schwartz said in a post<\/a> on X that Tether\u2019s investment pushed the company\u2019s valuation to $1.6 billion. As part of the deal, Whop will integrate Tether\u2019s Wallet Development Kit (WDK), allowing users to send and receive payments in stablecoins like USDT.<\/p>\n \u201cIn partnership with Tether, we will be scaling infrastructure in real-time for new business models as they emerge across the globe,\u201d Schwartz said on X. \u201cThe job is just getting started.\u201d<\/p>\n The deal is part of Tether\u2019s broader push to expand beyond crypto trading and into everyday finance. Specifically, Tether will gain exposure to a platform with over 18 million users and about $3 billion in yearly payouts. Moreover, Whop\u2019s transaction volume has been growing around 25% month over month, according to an official announcement<\/a>.<\/p>\n \u201cStablecoins and wallets become most powerful when they are embedded directly into people\u2019s lives, supporting their businesses, activities, families, and individual stories,\u201d Tether CEO Paolo Ardoino said, per the announcement. \u201cOur investment in Whop proudly reflects Tether\u2019s focus on supporting real economic activity by providing efficient digital dollar and wallet infrastructure that can scale to billions of people, across every continent.\u201d <\/p>\n