Tether, the crypto company behind the world’s largest stablecoin, USDT 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 around $3 billion each year. It is growing rapidly, with gross transaction volume increasing about 25% month over month, he added.
As part of the deal, Whop will integrate Tether’s crypto wallet tool, allowing users to hold and transact stablecoins such as Tether’s USDT and US-focused USAT directly on the platform. The integration also gives creators the option to accept digital payments in dollars and settle globally without relying on banks or card networks, according to the press release.
The funding round aims to support Whop’s expansion into Latin America, Europe and Asia-Pacific while adding lending and borrowing tools powered by decentralized financial 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 for accessing and transacting US dollars in emerging countries.
