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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 has finalized its first funding transaction in a Middle East crude oil investment, expanding the crypto company's ventures beyond its flagship digital assets product.

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.

Nigerian authorities have fined two crypto firms $30,000 for conducting USDT to naira transactions without a license.

Upbit lists the DRIFT token, allowing traders to trade it against KRW, BTC, and USDT, boosting options and visibility for Drift ecosystem.

DOGE and XRP were added to Binance Smart Arbitrage during a strong crypto market.

Tonhub Visa card users can pay directly with $TON or $USDt balances, and it supports SEPA, SWIFT, Apple Pay, and Google Pay.

Binance's Smart Arbitrage now supports XRP and DOGE, with a promotional campaign offering 45,000 USDT in rewards. Participants can earn bonus APR and trading fee rebates.

Tether reallocates $2 billion USDT to Ethereum, highlighting strategic liquidity moves and reaffirming its market dominance amid shifting blockchain demands.

Tether will transfer a portion of its USDT cold wallets from other blockchains to USDT on Ethereum via a chain swap. The overall supply of USDT will remain unchanged. Tether to Allow Traders to Utilize USDT Across Blockchains A chain swap is a procedure used to transfer cryptocurrency between blockchains.

The role of Ethereum in the stablecoin market is growing again.

The fear of further cryptocurrency selloff in the near term has significantly diminished as Bitcoin (BTC) price closed the daily candle above $75.6k for the first time since its inception.

The vast majority of Tether's USDT volume exists on the Tron network due to comparatively lower fees and faster transaction finality.

Tether's CEO, Paolo Ardoino, recently commented on the latest on-chain data provided by Whale Alert. According to the data, the Tether Treasury added a total of 2 billion USDT newly minted on Ethereum in a single transaction.

Tether (USDT) will be moved from several chains in a chain swap event. The biggest transfer will be of 1B USDT from TRON to Ethereum.

Tether CEO Paolo Ardoino has dismissed rumors of the company creating its own blockchain, asserting that Tether will focus on integrating its stablecoin, USDT, across various networks to support decentralized applications.

Binance launches a promotion offering up to 7 days of interest-free loans for users borrowing USDT, FDUSD, or USDC through team formation.

Tether (USDT) transfers have emerged as the leading source of activity on Toncoin. After a brief airdrop period, the network has returned to its usual pattern of value transfers across apps and DeFi hubs.