USDT token supply: how minting and burning work
USDT supply grows when Tether mints tokens for approved customers and shrinks when they redeem. Tether publishes quarterly attestations by BDO Italia.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
On this page
- Only approved customers can mint or redeem USDT with Tether.
- USDT runs on several blockchains, so supply is split by network.
- Tether began quarterly attestations by BDO Italia in July 2022.
You can follow USDT supply by watching mints that create tokens and burns that destroy them. The process runs through Tether for approved customers and appears on block explorers.
What should you know before tracking USDT?
USDT aims to stay equal to one US dollar. Tether issues it on more than one blockchain, so total supply is split by network. Tether says reserves back its tokens, and since July 2022 it has published quarterly attestations by BDO Italia.
How does USDT supply change step by step?
Only authorized customers can mint or redeem USDT directly with Tether. Tether mints tokens when an approved customer deposits dollars and burns them when that customer redeems.
- 1Complete Tether's KYC checksA customer must pass Tether's identity checks.
- 2Request and buy new USDTThe customer asks Tether to buy new tokens and pays dollars.
- 3Mint the new tokensTether creates the USDT and sends them to the customer.
- 4Burn on redemptionTether destroys tokens on redemption and sends dollars minus its fee.
How do you verify supply and avoid mistakes?
You can check supply and mint or burn events on block explorers and Tether's page. Market supply and demand can push the price away from the dollar peg, so a burn does not guarantee a return.
Frequently asked questions
Tether publishes quarterly attestations by BDO Italia, a practice it started in July 2022.
No. A burn reduces supply, but market demand can keep the price away from the peg.
New supply usually follows a customer purchase, but total supply can stay the same when tokens move between blockchains.
Yes. Issuing tokens on another network while removing them from one network leaves total supply unchanged.
