Tether, the company behind the popular USDT stablecoin, is making waves in the world of commodities trading. They just announced they’ve funded a $45 million deal for physical crude oil in the Middle East.
Tether’s First Middle Eastern Oil Deal
This is the first time Tether has gotten involved in oil trading in the region. The company says this is just the beginning of their plans to expand into more commodities and industries worldwide.
Tether CEO: “Reshaping Trade Finance”
Tether CEO Paolo Ardoino says this deal shows their commitment to making trade finance more efficient and faster. He believes using USDT can help cut down on the time and cost of traditional payment methods.
Tether’s Focus on Decentralization
Tether’s recent involvement in oil trading comes just two weeks after they unveiled a statue honoring the anonymous creator of Bitcoin, Satoshi Nakamoto, at a conference in Switzerland. This statue symbolizes Tether’s commitment to the core principles of blockchain technology, including decentralization.
Important Note: This article is for informational purposes only and should not be considered investment advice. Always do your own research before making any financial decisions.
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