Tether Invests $200 Million in Whop to Expand Stablecoin Payments

Stablecoin issuer Tether 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. Tether’s USDT stablecoin currently has a market cap of about $183 billion, according to DeFiLlama data, making it the largest circulating stablecoin worldwide. Whop co-founder Steven Schwartz said in a post on X that Tether’s investment pushed the company’s valuation to $1.6 billion. As part of the deal, Whop will integrate Tether’s Wallet Development Kit (WDK), allowing users to send and receive payments in stablecoins like USDT. To this as well as other DeFi and Web3 news, visit us at thedefiant.io