-
Tether
said
its
investment
arm
financed
670,000
barrels
of
Middle
East
crude
oil
worth
$45
million. -
The
issuer
of
the
USDT
stablecoin
wants
to
play
a
role
in
the
crucial
$10
trillion
global
trade
finance
industry.
-
01:56
Trump
Leads
Harris
on
Polymarket
After
Musk
Endorsement;
Tether
Celebrates
10-Year
Birthday -
45:19
EXCLUSIVE:
Paolo
Ardoino
and
Tether’s
$120B
Stablecoin
Empire -
02:27
Binance
Founder
CZ
Is
Now
a
Free
Man;
Swan
Bitcoin
Sues
Its
Ex-Employees -
00:53
Tether-Issued
Stablecoin
USDT’s
Market
Share
Grows
to
75%
Tether
said
its
investment
division
financed
a
$45
million
crude
oil
transaction
between
a
major
oil
company
and
commodity
trader,
part
of
the
USDT
issuer’s
attempt
to
expand
beyond
its
influential
stablecoin
roots.
The
issuer
of
USDT,
the
third-largest
cryptocurrency,
is
seeking
to
carve
out
a
niche
within
the
$10
trillion
trade
finance
industry
—
which
plays
a
crucial
role
in
facilitating
international
trade
and
commerce
by
reducing
risks
associated
with
cross-border
transactions.
Tether
revealed
its
plan
to
enter
commodities
trade
finance
last
month,
and
it’s
also
expanding
into
venture
capital,
bitcoin
(BTC)
mining
and
artificial
intelligence.
The
October
transaction
involved
670,000
barrels
of
Middle
East
crude
oil
cargo
and
took
place
between
“a
publicly
traded
super-major
oil
company”
and
“top-tier
commodity
trader,”
Tether
said.
“This
transaction
marks
the
beginning,
as
we
look
to
support
a
broader
range
of
commodities
and
industries,”
Tether
CEO
Paolo
Ardoino
said
in
a
statement.
“With
USDT,
we’re
bringing
efficiency
and
speed
to
markets
that
have
historically
relied
on
slower,
more
costly
payment
structures.”
Tether’s
USDT
stablecoin
plays
a
foundational
role
in
crypto
trading,
serving
as
a
form
of
liquidity
on
exchanges
and
increasingly
as
a
payments
and
savings
vehicles
in
emerging
economies.
It’s
a
massively
profitable
business:
The
company
said
it
has
raked
in
$7.7
billion
in
net
profits
this
year
so
far,
in
large
part
from
yields
earned
on
its
stockpile
of
$80
billion
U.S.
Treasury
bills.
The
company
has
used
profits
to
diversify
from
stablecoin
issuance,
investing
in
startups,
bitcoin
mining,
energy
production
and
AI.
A
Wall
Street
Journal
report
last
month
alleged
Tether
is
under
U.S.
criminal
investigation
for
possible
violations
of
sanctions
and
anti-money-laundering
laws,
something
the
company
denied.
Ardoino
said
in
an
interview
with
CoinDesk
that
the
company
respects
American
sanctions
and
is
dedicated
to
remaining
a
large
buyer
of
U.S.
debt.
