02 · Product & Entity Line

02Product & Entity Line

one group, six engines.

In 2024 Tether reorganised around divisions — Finance, Power, Data, Edu and Evo — with Tether Capital putting the profits to work. Here is every engine, every token and 51 product milestones, each linked to its launch announcement.

USD₮ issued

end of Q2 2026

Users

per Tether, Aug 2026

U.S. Treasury exposure

end of 2025

Product milestones

43 live today

The engines

Six divisions, one mission

Artwork for Finance, Power, Data and Edu comes from tether.io; each card links to the division's page.

tether finance

Digital money for everyone

Stablecoins, tokenization and wallet infrastructure — from USD₮ and XAU₮ to Hadron, WDK and the self-custodial tether.wallet.

17 milestones · 11 livetether.io/finance

tether power

Energy for a Bitcoin economy

Renewable-powered Bitcoin mining and open-source mining software: MOS, the Mining SDK and MDK.

7 milestones · 5 livetether.io/power

tether data

Local, private intelligence

Peer-to-peer apps (Holepunch, Keet, PearPass) and QVAC — a local-first AI stack that runs models on phones, laptops and robots instead of big-tech clouds.

16 milestones · 16 livetether.io/data

tether edu

Knowledge without borders

Digital-skills programmes, Plan ₿ in Lugano and El Salvador, and education partnerships from Georgia and Türkiye to Ghana, Vietnam and Kenya.

3 milestones · 3 livetether.io/edu

since 2024

tether evo

Where human potential meets technology

Frontier division focused on brain-computer interfaces, launched with a $200M majority stake in Blackrock Neurotech.

3 milestones · 3 live

tether capital

Profits put to work

The independent investment arm (formerly Tether Investments), based in El Salvador, deploying Tether's profits and excess reserves across AI, finance, energy, biotech, media and more.

5 milestones · 5 liveExplore portfolio

Product line

From a single stablecoin to a full stack

Tokens, wallets, tokenization, mining software, local AI and brain-computer interfaces — placed on one timeline.

The product line, 2014 → today

Every launch, division by division. Hover a marker for details; click to open the announcement.

Live
Announced
Sunsetting
Sunset

Token family

Every Tether token, live and retired

Status is shown with an icon and a label. Hover an emblem to flip it.

USD₮

Tether USD · pegged to US dollar

$184.6B issued, Q2 2026

The flagship. 60%+ of the stablecoin market.

Issuer
Tether International, S.A. de C.V.

USA₮

USA₮ · pegged to US dollar

GENIUS Act federal framework

Purpose-built for the U.S. market.

Issuer
Anchorage Digital Bank, N.A.

XAU₮

Tether Gold · pegged to 1 troy oz of gold

22.0 t gold backing, Q2 2026

Shariah-certified; Scudo = 1/1000 oz.

Issuer
TG Commodities, S.A. de C.V.

MXN₮

Tether MXN · pegged to Mexican peso

Peso-denominated Tether token.

Issuer
Tether

GEL₮

Georgian lari token · pegged to Georgian lari

Announced May 2026.

Issuer
Tether × Government of Georgia

CNH₮

Tether CNH · pegged to Offshore yuan

Issuance stopped Feb 2026.

Issuer
Tether

aUSD₮

Alloy by Tether · pegged to USD, XAU₮-collateralized

Wound down Jun–Sep 2026.

Issuer
Moon Gold (Tether Group)

EUR₮

Tether EUR · pegged to Euro

Redemptions ended Nov 2025.

Issuer
Tether

Entity line

How the group fits together

The legal entities that issue Tether's tokens and hold its investments, as named in its own announcements.

Tether Group

Headquartered in El Salvador since its 2025 licensing as a stablecoin issuer & DASP

Issuer / operating co.

Tether International, S.A. de C.V.

Issuer of USD₮ · KPMG-audited FY2025 · controlling shareholder of XXI

Issuer / operating co.

TG Commodities, S.A. de C.V.

Issuer of XAU₮ (Tether Gold)

Issuer / operating co.

Tether Operations, S.A. de C.V.

Operating company behind the Tether brand

Tether Capital

Investment arm (Tether Investments, S.A. de C.V.) — profits, not reserves

47 portfolio deals

Tether Global Investment Fund SICAF S.A.

Vehicle for proprietary investments outside the reserves

Issuer / operating co.

Moon Gold El Salvador / Moon Gold NA

Alloy by Tether (aUSD₮), wound down in 2026

aUSD₮ · sunset

Operating divisions

Tether FinanceTether PowerTether DataTether EduTether EvoTether Capital

Key counterparties named in announcements

Anchorage Digital Bank, N.A.Issuer of USA₮; $100M Tether equity stake
Cantor FitzgeraldUSA₮ reserve custodian & preferred primary dealer
KPMG U.S. · BDOFY2025 audit · quarterly reserve attestations
TRON · TRM LabsT3 Financial Crime Unit partners
City of LuganoPlan ₿ partner since 2022
Government of El SalvadorHome jurisdiction; DASP & stablecoin licences

Simplified view built only from entities named in Tether's own announcements; it is not a complete legal organisation chart.

Scale

The balance sheet behind the products

Figures from Tether's quarterly attestations and the KPMG audit of FY2025.

USD₮ in circulation

Digital tokens issued at each quarter-end, $ billions.

U.S. Treasury exposure

Direct and indirect holdings, $ billions.

Estimated USD₮ users

As stated in Tether announcements, millions.

Group net profit

By financial year, $ billions (2024 and 2025 reported as 'exceeding').

Excess reserves

Assets above token liabilities at quarter-end, $ billions.

What backs USD₮

Approximate reserve mix at 31 March 2026 (≈$191.8B: $183.5B liabilities + $8.23B excess).

U.S. Treasury exposure
Physical gold
Bitcoin
Other assets (derived)

'Other' is derived as total reserves minus the three disclosed categories.

Sources: Q2 2026 attestation · FY2025 attestation · USD₮ Q4 2025 market report · KPMG audit (FY2025), plus earlier quarterly attestations on tether.io/news.