| Tether | USD Coin (USDC) | |
|---|---|---|
Issuer | Tether | Circle |
Launched | 2014 | 2018 |
Designed to track | $US1 | $US1 |
Size (Oct 2026) | Largest stablecoin, #3 digital asset by market cap | Second-largest stablecoin, #6 digital asset by market cap |
Backing | Reserves of mainly US Treasury bills and cash equivalents, plus some gold and Bitcoin | Reserves of cash and short-term US government securities |
Reserve reporting | Quarterly reports | Regular reserve reports |
Tether is designed to stay close to US$1, so its price doesn't swing like most digital assets. What it costs in AUD mainly depends on:

Your own AUD account details, PayID and Osko support, and a dedicated Australian team.
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