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The stablecoin market has surged past $176 billion, reaching levels last seen in 2022. With Tether (USDT) and USD Coin (USDC) leading the way, this rise shows how stablecoins are quickly gaining traction in the crypto space. Here's what's behind the growth and what it means for the future.
HashKey Global's support for TRC-20 USDT and TRX boosts TRON's global reach, enhancing blockchain adoption and digital asset accessibility. The post HashKey Global announces support for TRC-20 USDT and TRX appeared first on Crypto Briefing.
Tether's Investment division is announcing the financing of a $45 million physical crude oil transaction between a major oil company and a commodity trader. In a new announcement, the USDT-stablecoin issuer says that this transaction is Tether Investments' first crude oil transaction in the Middle Eastern region, marking Tether's expanding role in global commodities trading.
Tether has completed its first USDT-based crude oil transaction in the Middle East, financing a $45 million deal involving 670,000 barrels, as part of its strategy to expand into commodities trading and modernize global trade flows. The post Tether Completes First USDT-Based Crude Oil Transaction in Middle East appeared first on Cryptonews.
The stablecoin firm previously came under fire from Wyoming Senator Cynthia Lummis for allegedly facilitating illicit finance activities.
The stablecoin firm previously came under fire from Wyoming Senator Cynthia Lummis for allegedly facilitating illicit finance activities.
Tether leveraged its USDT stablecoin to fund a $45 million crude oil transaction in the Middle East through its trade finance division, marking the first such deal in the region.
Tether recently assisted the Ontario Provincial Police in recovering $10,000 CAD worth of stolen cryptocurrency. This recovery was achieved through Tether's collaboration with the OPP's Cyber Investigations Team, showcasing the company's commitment to supporting law enforcement in combating cybercrime.
Tether, the issuer of the world's largest stablecoin, has recently minted $2 billion worth of USDT on the Ethereum network, while simultaneously reallocating funds across multiple leading cryptocurrency exchanges. This move, coming on the heels of an earlier $1 billion mint on the Tron blockchain, has caught the attention of the crypto community and market analysts.
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.
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.
