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Tether invests $200m in digital marketplace Whop
Tether is investing US$200 million in online marketplace Whop to support its expansion of stablecoin payments, in a deal Whop CEO Steven Schwartz said values the startup at US$1.6 billion.
Whop, which the company says has 18.4 million users, allows creators to sell access to software tools, trading groups, online communities, and learning courses.
Whop said it will integrate Tether’s crypto wallet tool, allowing users to hold and transact in stablecoins such as USDT and the U.S.-focused USAT directly on the platform.
The company said the integration would let creators accept digital-dollar payments and settle globally without relying on banks or card networks.
Whop added the funding will support expansion across Latin America, Europe, and Asia-Pacific.
The funding will also support plans to add lending and borrowing tools powered by decentralized finance infrastructure, the company said.
🔗 Source: CoinDesk
🧠 Food for thought
Implications, context, and why it matters.
Whop’s valuation surge is backed by rapid marketplace growth
- Whop now carries a US$1.6 billion valuation after a sharp run-up.
- In July 2023, it priced its Series A a little above US$100 million 1.
- In June 2024, the Series B came in around US$800 million, about 16 times higher in a bit over a year 1.
- That jump lines up with volume. Whop processes about US$100 million a month for creators, for example US$108 million, which puts gross merchandise volume (GMV) near a US$1.2 billion annual run rate 2.
Tether’s investment embeds crypto into creator payments
- Tether’s investment focuses on getting stablecoins used inside everyday payment flows.
- Putting stablecoins into Whop connects crypto to frequent cross-border payouts in the creator economy.
- Whop is expanding in India, Nigeria, and Pakistan, where creators often face slow settlement through traditional payment systems 2.
- A strong rollout could lead to similar deals in creator and gig work, as payment providers pursue services that already handle millions of small transactions worldwide.
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