# Tether International Limited

Tether International Limited is an Asset Manager based in Hong Kong, Hong Kong.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Hong Kong, Hong Kong
- **Region:** Asia
- **Address:** Hong Kong, Hong Kong
- **Assets under management:** Undisclosed
- **Website:** tether.io

## Regulatory record

- **Reports private funds:** No

## About

Tether International Limited was incorporated in 2014 by Brock Pierce, Craig Sellars, and Reeve Collins, originally as Realcoin before rebranding, and issues USDT, a stablecoin pegged 1:1 to the US dollar. It manages a reserve portfolio backing the circulating supply, with assets allocated primarily to US Treasury bills, repurchase agreements, and money market funds, plus secured loans, corporate bonds, and precious metals, and publishes quarterly attestations by BDO Italia. Headquartered in Hong Kong, Tether separated from Bitfinex in 2022, reported $4.52B net profits for the first half of 2024 driven by interest income on US Treasury holdings, and operates under a reserve-backed framework subject to a $18.5M New York Attorney General settlement in 2021.

## Sectors

- Digital Assets
- FinTech
- Infrastructure
- Private Credit

## Questions

### Who runs investment decisions at Tether International?

Tether's investment committee is led by CEO Paolo Ardoino, who assumed the role in 2023. The committee makes asset allocation decisions for the reserve portfolio, which is audited quarterly by BDO Italia (per Tether official communications).

### How does Tether source proprietary deal flow?

Tether's investment team sources opportunities through direct relationships in the digital asset and fixed-income markets, particularly for secured lending and private credit deals. The firm does not publicly disclose a formal sourcing network beyond its treasury operations (per public filings and transparency reports).

### What investment stages does Tether typically target?

Tether does not target traditional equity stages. Its investment activity focuses on liquid fixed-income instruments like US Treasuries, repurchase agreements, and money market funds, with occasional private credit and secured lending. The firm has also made direct investments in Bitcoin mining and blockchain infrastructure (per quarterly attestations).

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Last updated: 2026-07-11T16:29:19.000Z

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