Tether enters crude oil trading! Financing supports $45 million crude oil transportation, expanding landing development.

Stable Coinissuance giant Tether recently announced that its investment department provided financing for an oil transaction between a listed supermajor and a top-tier commodity trader last month, to assist in loading and transporting 670,000 barrels of Middle Eastern oil worth $45 million. This is the first time that Tether Investment has participated in the Middle Eastern oil market, indicating that they will continue to expand their landing development.

$USDT Impact on International Trade

Tether CEO Paolo Ardoino stated that, based on the high transparency and Settlement efficiency of the Block chain network, $USDT can significantly reduce the costs and payment time required for international trade while complying with top-tier compliance and anti-money laundering standards. Although this oil transaction is a first of its kind, it has indeed laid the foundation for Tether's support in various fields such as trade, finance, technology, and agriculture.

"$USDT has introduced an optimized solution to the inefficient and costly international trade market; this also means that Tether can support a wider range of goods and industries, thereby promoting innovative and inclusive development of global finance. This financing for crude oil trading demonstrates our commitment to reshaping the trade landscape."

Tether establishes an investment department to promote diversified development of $USDT.

Tether has launched the Tether Investment trade finance division this year, with plans to support a $10 trillion trade finance market through a simplified solution for global trade flows, thereby expanding its business scale. Tether Investment is an independent division separated from the Tether Stablecoin reserve. The division aims to provide flexible capital solutions to large companies through Tether's outstanding profit capabilities, and to improve international trade efficiency using $USDT, further pushing financial development towards a significant transformation of Web3.

$USDT issuance status

According to DefiLlama, the total issuance value of stablecoins is $178.168 billion, an increase of 2.8% compared to last week. Among them, USDT accounts for $123.594 billion, occupying a whopping 69.37% of the stablecoin market, indicating that Tether is currently the most influential stablecoin issuance provider.

Image source: DefiLlama Stable CoinMarket Cap Distribution

Last Thursday, Tether transferred over $2 billion USDT from Tron, Avalanche C-Chain, NEAR Protocol, Celo, EOS, and other chains to Ethereum. This decision may be due to the mismatch between the usage and issuance of USDT on these networks (excessive issuance). Experts expect that Tether will also continue to make dynamic adjustments to the allocation of USDT based on the usage needs of each network, in order to maintain market sensitivity and adaptability.

Further Reading Looking for the next gold rush! Tether invests 2 billion baht in AI and alternative finance, challenging tech giants Tether's latest report is out! The profit for the first three quarters reached 7.7 billion RMB, earning 2.4 billion RMB from gold and US bonds.