Tether has entered the oil trading market with a $45 million deal financing 670,000 barrels of Middle Eastern crude oil, marking its expansion from cryptocurrency into traditional commodity trading.

Tether has made the funding for the first time for crude oil transactions in the Middle East. This action is part of stablecoin's issuer's bigger plan to expand its business in the world of commodity trading.

TL;DR Tether has completed its first USDT crude oil transaction in the Middle East, financing 670,000 barrels of oil worth $45 million. The operation strengthens the company's role in global trade financing. Its Tether Trade Finance division offers modern and accessible solutions.

Tether's investment division completes its first Middle Eastern crude oil transaction.

The USDT issuer is expanding in trade finance, seeking to carve out a niche in the $10 trillion ecosystem.

The giant of digital assets finances a historic operation of 670,000 barrels worth 45 million dollars

Completed in October 2024, the deal facilitated the transport of 670,000 barrels of crude oil and marked Tether's entry into the commodity trading market.

Tether's investment division successfully funded its first crude oil transaction in the Middle East. The transaction, involving a leading publicly traded oil super-major and a top-tier commodity trader, facilitated the transport of 670,000 barrels of Middle Eastern crude oil, valued at approximately $45 million.

The deal is structured as a “short-term product prepayment,” with the stablecoin issuer set to receive both the principal amount and interest.

Key Points:

Tether Investments, a trading and investing arm of stablecoin ecosystem Tether, just finalized its first-ever crude oil purchasing transaction. The company demonstrates more ambition in the commodities and real-world asset (RWA) trading spheres.

Tether's division used USDT for a $45M crude oil trade, marking a key move in the $10T trade finance market expansion. The post Tether's investment division finances $45M crude oil trade in Middle East with USDT appeared first on Crypto Briefing.

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