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Tether has completed its first crude oil transaction in the Middle East, financing the load and transport of 670,000 barrels for 45 million dollars. This event marks an evolution in global trade finance.
Let’s see all the details in this article.
Summary
Oil: new opportunities emerge thanks to the efficiency and speed offered by Tether’s USDT stablecoin
As anticipated, Tether, a global leader in the digital asset sector, announced the completion of its first significant trade finance operation for crude oil in the Middle East.
The transaction, carried out by Tether’s Investment division, facilitated the loading and shipment of 670,000 barrels of Middle Eastern crude oil in October 2024. All this for a total value of approximately 45 million dollars.
This event marks an important step for Tether, which is further expanding into the global trade finance market.
The activity of Trade Finance of the company, launched only at the beginning of this year, has already gained significant ground.
Specifically, this aims to serve the trade finance market, estimated at 10 trillion dollars, offering capital solutions that modernize and simplify global transactions.
It is important to note that this activity operates independently from Tether’s stablecoin reserves, ensuring that corporate resources are used strategically to achieve significant returns.
Paolo Ardoino, CEO of Tether, emphasized the importance of this operation, stating the following:
“The financing by Tether Investments of this significant crude oil transaction demonstrates our commitment to transforming the trade finance sector. Through USD₮, we are introducing efficiency and speed in markets that traditionally rely on slow and costly payment structures.”
The impact of stablecoin in payments
Ardoino also highlighted the impact that the stablecoin USDT is having, helping to reduce transaction costs and accelerate payment times compared to conventional loans.
This makes financial operations more agile and less burdensome for the companies involved. The adoption of USDT in trade finance transactions indeed offers numerous advantages.
First of all, it lowers the overall costs associated with transactions, offering a clear improvement over traditional financing methods.
Secondly, it ensures faster payment times, a feature that is particularly advantageous for companies operating in complex and competitive global markets.
Furthermore, Tether ensures compliance with the highest AML standards (anti-money laundering) and transparency, thanks to the use of blockchain technology, strengthening the trust of investors and commercial partners.
The October transaction is therefore just the beginning. Tether plans to expand its reach in the trade finance sector, exploring new opportunities that go beyond crude oil.
The company intends to support a variety of sectors, including technology, agriculture, and finance, with the possibility of financing asset-backed commodities.
This diversified approach is intended to promote a positive and inclusive change in the global economic landscape, offering more companies access to capital in an efficient and transparent manner.
The vision of Tether is not limited to transforming commercial transactions, but also aims to make financial operations more accessible globally.
By using the stablecoin USDT, Tether is demonstrating how digital innovation can bring concrete benefits to sectors that have long been dominated by traditional financial structures.
This evolution is particularly relevant in an era in which efficiency and speed are fundamental for commercial success.