Tether, the leading stablecoin provider, announced today the launch of tether.wallet, also known as the People’s Wallet. This self-custodial mobile app offers stablecoin and Bitcoin services directly to users worldwide. The goal of the launch is to assist unbanked and underbanked populations by making digital finance accessible and straightforward.
The release marks an important step in Tether’s mission to expand its global infrastructure and serve everyday people, particularly in developing regions.
Tether Introduces Gasless, Self-Custody Wallet
Tether has created a wallet that gives users complete control over their funds at all times. With this wallet, users can back up their accounts with a single click to encrypted cloud storage or use a standard 12-word seed phrase for secure recovery. The app supports multiple assets, including USD₮ and the new USA₮ stablecoins, XAU₮ for gold exposure, and Bitcoin.
At launch, USD₮ will be available on Ethereum, Polygon, Arbitrum, and other chains, while USA₮ will initially operate on Ethereum. XAU₮ can be accessed on Ethereum, Polygon, and Arbitrum. Meanwhile, Bitcoin will function on its main chain and utilize the fast Lightning Network.
The wallet offers gasless transfers, allowing users to send money without needing additional tokens for transaction fees. Instead, the wallet covers these costs internally, enabling users to pay solely with the asset they are sending. Built on Tether’s open-source Wallet Development Kit, the tool is designed for smooth future updates and broader blockchain support.
New Tether Wallet Fuels Global Inclusion
Tether has dedicated over 10 years to developing tools for individuals who lack access to traditional banking services. Many of these users live in regions with high inflation or limited banking options, where having stable money and the ability to make fast payments is crucial.
CEO Paolo Ardoino calls the new wallet the “People’s Wallet” because it aims to make important technology accessible to everyday people. He emphasized that the wallet simplifies using digital assets while retaining the benefits for daily transactions.
“Tether has achieved, without any doubts, the widest financial inclusion success story in the history of humanity. With more than 570 million people already using Tether’s technology, the next step is making that digital infrastructure even more accessible and usable by the end users,” he said.
Meanwhile, Tether intends to add more blockchains to its new wallet soon to provide additional options and improved service. The development emphasizes Tether’s commitment to creating practical technology that fosters real financial inclusion for unbanked communities worldwide.
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