Tether, the issuer of the world's largest stablecoin, USDt, has launched a new self-custodial wallet named tether.wallet. The wallet supports Tether-issued assets USDT, XAUT, and USAT, along with Bitcoin (BTC). Tether stated the wallet simplifies transactions by allowing users to pay fees directly with the asset being transferred, eliminating the need for separate network tokens. It also features human-readable @tether.me usernames to avoid complex wallet addresses.
Tether emphasized that the wallet is designed for self-custody, with all transactions signed locally on the user's device and private keys controlled solely by the user. CEO Paolo Ardoino highlighted the goal of making digital finance more accessible and user-friendly.
The wallet supports USDT and XAUT on Ethereum, Polygon, Plasma, and Arbitrum. USAT is initially available on Ethereum, and Bitcoin is supported on-chain and via the Lightning Network. A notable feature is the ability to "safely back up" private keys to the cloud, though user control over disabling this backup remains unclear.