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Tether allocates $200 million to digital platform Whop to enhance stablecoin transaction capabilities.
The online marketplace announced that it will incorporate Tether’s crypto wallet tools and USDT, USAT tokens to facilitate crypto payments for more than 18 million users.
Tether CEO Paolo Ardoino at White House (Nikhilesh De/CoinDesk)
Key points:
- Tether is allocating $200 million to online marketplace Whop to enhance stablecoin-based transactions.
- Whop will adopt Tether’s crypto wallet tools, enabling users and creators to manage, transact, and settle in stablecoins like USDT independently of banks or card networks.
- This investment will facilitate Whop’s global growth across Latin America, Europe, and Asia-Pacific, further integrating Tether’s stablecoins into routine online commerce.
Tether, the cryptocurrency firm responsible for the leading stablecoin USDT , is committing $200 million to the online marketplace Whop to promote stablecoin transactions.
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This agreement values the startup at $1.6 billion, as stated by Whop CEO Steven Schwartz in a post on X.
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Whop operates a digital platform where creators offer access to software tools, trading groups, online communities, and educational courses. The platform reports having 18.4 million users and claims that participants generate approximately $3 billion annually. It is experiencing rapid growth, with gross transaction volume rising by about 25% month-over-month, according to their statements.
As part of the agreement, Whop will incorporate Tether’s crypto wallet tool, allowing users to manage and transact in stablecoins such as Tether’s USDT and U.S.-focused USAT directly on the platform. This integration will also provide creators with the ability to accept digital dollar payments and settle globally without depending on banks or card networks, as detailed in the press release.
The funding round aims to assist Whop’s expansion across Latin America, Europe, and Asia-Pacific while introducing lending and borrowing capabilities powered by decentralized finance infrastructure.
With this investment, Tether aims to deepen its stablecoins’ presence in consumer-facing platforms and everyday online transactions. The company’s flagship stablecoin, the $185 billion USDT token, serves as a widely used means to access and conduct transactions in U.S. dollars in emerging markets.
