HONG KONG, CHINA--(Marketwired - Nov 20, 2014) - Today Realcoin officially launched in private beta as Tether, the new way to move money online. Tether makes it possible for anyone to safely enjoy the speed and cost-savings of the Bitcoin blockchain for P2P transactions, online shopping and bill payment while using familiar currencies. To request an invite to the Tether private beta, visit www.tether.to
The blockchain is a decentralized public ledger for exchanging value anywhere in the world without the added time and expense of banks or other third party intermediaries. To date, bitcoin and altcoins have been created for making blockchain transactions, but these emerging cryptocurrencies suffer from severe market volatility, rendering them impractical for mainstream daily use.
Tether directly solves this problem by formatting government-issued currencies as standardized digital tokens for making worldwide transactions over the blockchain. The private beta currently supports USTether (US+), EuroTether (EU+), and YenTether (JP+).
"While the blockchain shows great promise to more efficiently connect the world to banking, individuals are very hesitant to use bitcoin until we effectively end the volatility concern," said Reeve Collins, co-founder and CEO of Tether. "This is a critical step for mass adoption of this technology, and Tether is bridging the gap by bringing familiar currencies to the blockchain."
The Tether platform is fully transparent and will be regularly audited. Every Tether+ token is backed 100% by its original currency, and can be redeemed at any time with no exposure to exchange risk. In addition, customers can access a real-time balance sheet of Tether's reserves, offering unprecedented access to the movement of assets and outstanding Tether+ in circulation.
The company's industry-leading launch partners include:
Bitfinex, the world's largest exchange for bitcoins and US dollars.
GoCoin, the first international payment platform for bitcoin and other emerging cryptocurrencies
ZenBox, the world's largest network of Bitcoin kiosks
OmniWallet, a multi-currency bitcoin wallet, powered by Mastercoin
HolyTransactions, a multi-currency bitcoin wallet
Expresscoin, the fastest way to buy and sell cryptocurrency in the US
Tether is actively seeking banks, digital currency exchanges, wallet builders, and related companies in the Bitcoin ecosystem to join its global network. For more information or to request an invite to the private beta, please visit www.tether.to
Founded in May of 2014, Tether Holdings is a BVI holding company with operations in Hong Kong and the Isle of Man. To learn more, visit www.tether.to.