Reported 16 days ago
Tether has successfully funded its inaugural crude oil transaction in the Middle East, marking a significant step in its strategy to expand into commodities lending. The transaction, completed in October, involved transporting 670,000 barrels of crude oil valued at about $45 million between a major oil company and a commodity trader. Tether's CEO highlighted this as the start of broader support for various commodities, aligning with its growth in the cryptocurrency sector.
Source: YAHOO