Tether has entered talks to raise up to USD 20 billion in a private placement that can value the firm at USD 500 billion.
The company is seeking USD 15 billion - USD 20 billion for an approximately 3% stake, according to a Bloomberg News report. However, these figures are top-end targets, and eventual numbers could end up significantly lower, depending on the stake offered.
Tether eyes USD 500 billion valuation
Tether’s chief executive mentioned on an X post that the company is evaluating a raise from a select group of investors, without disclosing more details about the matter. The company strengthened its position with the launch of the USDT stablecoin, which has a market capitalisation of around USD 173 billion, according to CoinGeko. The company is a key player in the stablecoin market, offering crypto pegged to traditional currencies to minimise price volatility and enable simple transactions between digital assets.
In August 2025, Tether appointed a former White House crypto policy executive as adviser to support its expansion in the US, where crypto companies benefit from Trump’s favourable stance on digital currencies. Additionally, Tether recently unveiled plans to launch a US-based stablecoin, called USAT, designed for US residents.
Rival stablecoin firm Circle also went public in the US through an IPO move in June. The offering valued the company at roughly USD 6.9 billion based on outstanding shares, with a fully diluted valuation, accounting for options, restricted units, and warrants, estimated at around USD 8.1 billion. The IPO is underwritten by JPMorgan Chase & Co., Citigroup Inc., and Goldman Sachs Group Inc.
Tether’s move comes as the company plans to enter the US market by aligning USDT with the GENIUS Act and launching a new compliant US-specific stablecoin by late 2025. The new stablecoin will coexist with USDT, aiming to optimise cross-border payments and compete with other issuers, while also adhering to reserve-backed audit requirements.
