Compare · Publication ready
What is actually behind USDT vs USD1?
Evidence decomposition only. No safer / best / winner / recommended framing.
Backing
Fiat-reserve backed
Fiat-reserve backed
Issuer
Tether International, S.A. de C.V.
BitGo Bank & Trust, N.A.
Peg
USD
USD
Reserve disclosure
Jun 30, 2026 · 9 categories · Current verified
Jul 31, 2026 · 2 categories · Current verified
Assurance
Assurance report (BDO Advisory Services S.r.l.)
Assurance report (KPMG LLP)
Redemption
Eligibility restricted · Eligible counterparties per Tether Terms / RID
Eligibility restricted · Eligible BitGo customers
Control
Mint: Yes · Freeze: Unknown · Blacklist: Unknown · Pause: Unknown · Upgrade: Unknown · Governance: Unknown
Mint: Yes · Freeze: Unknown · Blacklist: Unknown · Pause: Unknown · Upgrade: Unknown · Governance: Unknown
Regulation
Tether International authorized as Stablecoin Issuer and DASP under El Salvador CNAD (entity-scoped). Never write: USDT is regulated.
Issuer is BitGo Bank & Trust, N.A. — entity-scoped. WLF GENIUS Act alignment is a claim, not a verified licence grant.
Evidence recency
Current verified · verified Aug 29, 2026
Current verified · verified Aug 29, 2026
Allowed evidence conclusions
- More detailed published reserve composition
- More recent reserve evidence
- More explicit issuer / legal-entity evidence
Evidence compare only. No safety ranking. Unresolved states preserved.