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.
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