{"id":41027,"date":"2024-11-09T05:02:27","date_gmt":"2024-11-09T05:02:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tether-diversifies-with-45m-middle-eastern-oil-trade-financing\/"},"modified":"2024-11-09T05:02:27","modified_gmt":"2024-11-09T05:02:27","slug":"tether-diversifies-with-45m-middle-eastern-oil-trade-financing","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tether-diversifies-with-45m-middle-eastern-oil-trade-financing\/","title":{"rendered":"Tether Diversifies with $45M Middle Eastern Oil Trade Financing"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Tether, widely known for issuing the USDT stablecoin, has recently stepped into trade finance by funding a $45 million crude oil transaction. The deal, involving 670,000 barrels of Middle Eastern crude oil, marked a significant step for Tether as it broadens its scope beyond digital currency. This transaction took place between a <em>\u201cpublicly traded super-major oil company\u201d<\/em> and a <em>\u201ctop-tier commodity trader,\u201d<\/em> Tether stated, underscoring its aim to establish a place within the massive $10 trillion trade finance industry.<\/p>\n<p>While Tether\u2019s USDT stablecoin holds an essential position in crypto markets\u2014serving as a key liquidity source on exchanges and as a payment option in emerging markets\u2014the company has been actively diversifying. This move into commodities trade finance aligns with Tether\u2019s broader goal of venturing beyond its core business. CEO Paolo Ardoino highlighted this shift, saying, <em>\u201cThis transaction marks the beginning, as we look to support a broader range of commodities and industries.\u201d<\/em> By leveraging USDT, Tether aims to bring faster, more efficient payment solutions to industries long reliant on traditional, often slower, systems.<\/p>\n<p>Tether\u2019s expansion efforts are largely supported by the strong profits it has generated this year. The company reported $7.7 billion in net profits, with much of this income stemming from its substantial holdings in U.S. Treasury bills, currently valued at $80 billion. These earnings have enabled Tether to diversify its portfolio, with recent investments spanning venture capital, Bitcoin mining, energy production, and artificial intelligence.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/tether-funds-45m-oil-deal-in-push-beyond-cryptocurrency\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Tether, widely known for issuing the USDT stablecoin, has recently stepped into trade finance by funding a $45 million crude oil transaction. The deal, involving 670,000 barrels of Middle Eastern crude oil, marked a significant step for Tether as it broadens its scope beyond digital currency. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":41028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41027"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=41027"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/41028"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=41027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=41027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=41027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}