Tether invests $200 million in digital marketplace Whop to expand stablecoin payments
TL;DR
Tether invests $200 million in digital marketplace Whop to expand stablecoin payments, integrating its wallet tools for users and creators to transact in USDT without banks. The funding supports Whop's global expansion and embeds Tether's stablecoins deeper into online commerce.
Key Takeaways
- •Tether is investing $200 million in Whop, valuing the startup at $1.6 billion, to boost stablecoin-based payments on the platform.
- •Whop will integrate Tether's crypto wallet tools, enabling users and creators to hold, transact, and settle in stablecoins like USDT without relying on banks or card networks.
- •The funding aims to support Whop's expansion into Latin America, Europe, and Asia-Pacific, while adding DeFi-powered lending and borrowing tools.
- •This move embeds Tether's stablecoins, particularly the $185 billion USDT, further into consumer-facing platforms and everyday online commerce.
- •Whop has 18.4 million users, with participants earning about $3 billion annually and gross transaction volume growing 25% month-over-month.
What to know:
- Tether is investing $200 million in online marketplace Whop to expand stablecoin-based payments.
- Whop will integrate Tether’s crypto wallet tools so users and creators can hold, transact and settle in stablecoins like USDT without banks or card networks.
- The funding will support Whop’s global expansion across Latin America, Europe and Asia-Pacific, further embedding Tether’s stablecoins in everyday online commerce.
- Tether is investing $200 million in online marketplace Whop to expand stablecoin-based payments.
- Whop will integrate Tether’s crypto wallet tools so users and creators can hold, transact and settle in stablecoins like USDT without banks or card networks.
- The funding will support Whop’s global expansion across Latin America, Europe and Asia-Pacific, further embedding Tether’s stablecoins in everyday online commerce.
Tether, the crypto company behind the world's largest stablecoin USDT USDT$1.0002, is investing $200 million in online marketplace Whop to boost stablecoin payments.
The deal values the startup at $1.6 billion, Whop CEO Steven Schwartz said in an X post.
Whop runs a digital marketplace where creators sell access to software tools, trading groups, online communities and learning courses. The platform said it has 18.4 million users and that participants earn about $3 billion each year. It's growing fast, with gross transaction volume increasing about 25% month-over-month, it added.
As part of the deal, Whop will integrate Tether’s crypto wallet tool, allowing users to hold and transact in stablecoins such as Tether's USDT and U.S.-focused USAT directly on the platform. The integration also gives creators the option to accept digital dollar payments and settle globally without relying on banks or card networks, the press release said.
The funding round is aimed at supporting Whop's expansion across Latin America, Europe and Asia-Pacific while adding lending and borrowing tools powered by decentralized finance infrastructure.
With the investment, Tether pushes its stablecoins deeper into consumer-facing platforms and everyday online commerce. The company's flagship stablecoin, the $185 billion USDT token, is a popular tool to access and transact in U.S. dollars in emerging countries.
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