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Tether Holdings Ltd, the company behind the world's largest stablecoin, USDT, is expanding its horizons by exploring lending opportunities in the commodities trading sector.
Tether, the largest stablecoin issuer, could consider lending U.S. dollars to commodities trading institutions, per reports.
Tether Holdings Ltd., the company behind the stablecoin USDT, is considering lending to commodities traders in its quest for ways to deploy its significant profit.
The USDT issuer needs ways to deploy billions of dollars in profits, and commodity traders could benefit from expanded credit.
Tether considers entering commodity trade finance, potentially offering an alternative to traditional credit sources. The post Tether explores lending billions to commodity traders to shake up traditional trade finance appeared first on Crypto Briefing.
If Tether pursues opportunities in commodities or traditional finance, it will be separate from its stablecoin business.
Tether, the leading stablecoin issuer, has revealed its plans to explore opportunities in commodity trading after securing massive profits, according to a Monday report by Bloomberg.
Tether is considering lending to commodities trading firms, a sector traditionally dependent on banks for credit.
Tether said the next ten years would be focused on solving big problems, such as regulatory clarity in the crypto space.
ENA, the native cryptocurrency of Ethereum-based DeFi project Ethena has witnessed a strong surge as the platform pitches a direct stablecoin competition with industry giant Tether. As a result, the ENA price has shot up by 25% moving to $0.35 with its market cap surging past $920 million.
Tether has achieved its first 10 years with a considerable jump in its user base, a closer relationship with US authorities and fresh regulatory challenges in Europe.
Tether co-founder Phil G Potter donated almost half a million dollars towards the Commonwealth Unity Fund (CUF), which is meant to support John Deaton. This comes as the 57-year-old John Deaton, the Republican hopeful is looking at ousting the Democratic candidate Senator Elizabeth Warren in Massachusetts.
USDT, the largest stablecoin in the crypto market, has marginally lost its peg to the U.S. dollar, trading at less than $1 since September 30.
The European Securities and Markets Authority declined to disclose whether USDt is “noncompliant” but said it is working on solutions to issues in the framework.
El Dorado, a Latam-focused peer-to-peer (P2P) exchange, has partnered with Tron DAO to offer gasless TRC20-USDT transactions for its customers. Until October 30, each user will be able to perform a limited number of withdrawals with no costs associated.
On Sunday, Tether, the issuing company behind the largest and most widely used stablecoin on the market USDT, marked a significant turning point by celebrating its 10th anniversary.
TL;DR Market Surge: The stablecoin market has reached a total market capitalization of $169 billion, with Tether (USDT) leading the growth, increasing its market cap by $28 billion to nearly $120 billion this year.
USDT dominance movement reveals an interesting connection with crypto price movements.
According to the latest report from CryptoQuant, stablecoin liquidity has crossed new records, largely due to Tether and Circle. Ripple entered the space with its new RLUSD token.
USDT, the stablecoin issued by Tether, is reportedly experiencing the impacts of Chinese investors suddenly returning to their nation's stock market. According to a new report by Bloomberg, USDT has at times traded below the value of the US dollar since the end of September.
In a recent interview with Fox Business, Tether CEO Paolo Ardoino confirmed that the USDT stablecoin is 104% backed.
Paolo Ardoino, the CEO of Tether, the global firm behind the most widely used dollar-backed crypto token, USDT, gave a rare interview with FOX Business.
Stablecoin issuer Tether has revealed a 10-year roadmap aimed at launching new tokens to promote financial inclusion and innovation in areas such as AI, energy sustainability, and blockchain education. This strategic outline, presented during the company's 10th-anniversary event, reinforces Tether's dominance in the stablecoin sector.
On October 6, 2024, Tether, the issuer of the USDT stablecoin, celebrates its 10th anniversary with the release of a documentary titled "Stability and Freedom in Chaos." This film highlights the significant impact of USDT in countries like Turkey, Brazil, and Argentina, where rampant inflation has driven citizens to seek crypto alternatives to protect their wealth.
