Tether has launched its native self-custodial wallet, a strategic move to directly embed its infrastructure into the hands of its 570 million global users. The multi-asset Tether.wallet supports USDT across multiple chains alongside BTC and tokenized gold, positioning the stablecoin giant for unprecedented user adoption and challenging traditional remittance systems worldwide.

Tether introduces wallet to deepen global adoption

The new app has the potential to become one of the leading wallets, acting as a direct hub for the multi-chain version of USDT.

Despite its influence, USDT operated without a native payment app, serving only through third-party services for the digital economy, including DEXes, centralized trading, liquidity pools, and lending. 

The stablecoin is used in over 160 national markets. The multi-chain USDT version is the most widely used asset for global dollarization, and has organically created one of the densest and far-reaching money networks. 

The wallet completes the growing open financial system with a product designed for everyday use. The wallet will carry the most essential assets, USDT, USAT, tokenized gold XAUT, as well as BTC. The wallet’s main goal is to offer multi-chain versions and simplify the usage of digital assets. Users will also have a human-readable identifier name to avoid copy-pasting long addresses.

At the same time, the wallet will be entirely self-custodial, and users will sign their transactions locally, in full control of their private keys. 

The wallet will allow paying transaction fees in USDT, eliminating the need to hold native tokens across multiple chains. This will differentiate Tether.wallet from other apps that may require purchasing multiple gas tokens. The need to only host USDT and use multiple chains may remove one of the major friction points in DeFi, trading, and general transfers to other chains, without the need to risk losing assets to bridging, errors, or smart contracts. 

Tether active addresses peaked in March

Tether’s adoption is evident in the daily active addresses. Daily activity peaked in March with over 334K daily active wallets. 

As usual, USDT is most widely used on Ethereum and TRON, supplying liquidity to global markets. 

The wallet’s launch also arrives at a time when scams and hacks abound. Tether has been known for being relatively fast in freezing assets. 

The new wallet will offer self-custody, but will integrate another security layer to drive global regulated adoption. The wallet will operate under the jurisdiction of the British Virgin Islands. As with other USDT trading tools, fiat redemptions are only for KYC-verified users, while others can use USDT on decentralized platforms. 

The wallet may also be used to screen addresses, restrict access, and trace funds obtained fraudulently. 

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