Tether, the crypto company behind the world’s largest stablecoin USDT invests $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 operates a digital marketplace where creators sell access to software tools, trade 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 is growing rapidly, with gross transaction volume increasing by around 25% month-on-month, it added.
As part of the deal, Whop will integrate Tether’s crypto wallet tool, allowing users to hold and trade stablecoins such as Tether’s USDT and US-focused USAT directly on the platform. The integration also allows creators 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 the Asia-Pacific region, while adding lending and borrowing tools powered by decentralized finance infrastructure.
With the investment, Tether is pushing its stablecoins deeper into consumer-facing platforms and daily online commerce. The company’s flagship stablecoin, the $185 billion USDT token, is a popular tool for accessing and trading US dollars in emerging countries.
