Tether, the encryption company behind the world’s largest stablecoin USDT is investing $200 million in online marketplace Whop to facilitate stablecoin payments.
Whop CEO Steven Schwartz said in an X post that the deal values the startup at $1.6 billion.
Whop operates a digital marketplace where creators can sell access to software tools, trading groups, online communities and learning courses. The platform says it has 18.4 million users, with participants earning about $3 billion annually. It added that it is growing rapidly, with total transaction volume increasing by approximately 25% month-on-month.
As part of the deal, Whop will integrate Tether’s crypto wallet tools, allowing users to hold and trade 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 them globally without relying on banks or card networks, the press release said.
This round of funding is designed to support Whop’s expansion in Latin America, Europe, and Asia-Pacific, while adding lending tools powered by decentralized financial infrastructure.
With this investment, Tether is pushing its stablecoin deeper into consumer-facing platforms and everyday online commerce. The company’s flagship stablecoin is the $185 billion USDT token, a popular tool for accessing and trading U.S. dollars in emerging countries.
