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 about $3 billion each year. It’s growing fast, with gross transaction volume increasing about 25% month-over-month, it added.
As part of the deal, Whop will integrate Tether’s crypto wallet tool, allowing users to hold and transact in 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 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 Asia-Pacific while adding lending and borrowing tools powered by decentralized finance 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 to access and transact in U.S. dollars in emerging countries.