Teda Dollar (USDT) is a token with stable currency introduced by TEDA Company on the basis of US Dollar. Users can use USDT to convert 1: 1 into US dollars at any time. Tether company also strictly abides by the reserve guarantee of 1: 1, that is, its bank account will be guaranteed by 1 USD every time it issues1USD token. Users can query funds on the tether platform to ensure transparency.
Tedabi is issued and traded using the Omni protocol, which is a 2.0 currency based on the bitcoin blockchain. Usdt's transaction confirmation and other parameters are consistent with bitcoin. Users can wire US dollars to the bank account provided by Tether through SWIFT, or exchange them into US dollars through the exchange. When exchanging dollars, the reverse operation is enough. Users can also convert Bitcoin into usdt on the exchange.
TEDA currency cannot be converted into RMB. Notice on Carrying out Self-inspection and Rectification of Payment Business in Illegal Virtual Currency Transactions All payment institutions within their jurisdiction should carry out self-inspection and rectification, prohibit providing services for virtual currency transactions, and take effective measures to prevent payment channels from being used for virtual currency transactions. Financial institutions and non-bank payment institutions may not directly or indirectly provide products or services such as account opening, registration, trading, clearing and settlement for token issuance financing and virtual currency, and may not underwrite insurance business related to tokens and virtual currency or include tokens and virtual currency in the scope of insurance liability.
China Internet Finance Association issued "Risk Tips on Preventing Disguised ICO Activities", calling on consumers and investors to recognize the essence of relevant models, enhance their awareness of risk prevention, invest rationally and not blindly follow suit.