The USDT issuer is expanding in trade finance, seeking to carve out a niche in the $10 trillion ecosystem. Sign up for Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor.

Tether has completed its first USDT-backed crude oil transaction in the Middle East, valued at $45 million, marking a significant expansion into commodities trading. USDT Stablecoin issuer Tether said on November 8 that it completed funding its first crude oil transaction in the Middle East.

Stablecoin issuer Tether said it completed the funding of its first crude oil transaction in the Middle East as part of a plan to become a lender in commodities trading.

Tether, issuer of the USDT stablecoin, has financed its first major crude oil transaction in the Middle East, moving 670,000 barrels valued at $45 million. This marks a significant entry into commodities for

Tether has made the funding for the first time for crude oil transactions in the Middle East. This action is part of stablecoin’s issuer’s bigger plan to expand its business in the world of commodity trading.