CandleFocus Tether Trade Finance Completes Funding of First Middle Eastern Crude Oil Transaction
2024-11-08
Author: Content Editor
Tether, the largest company in the digital asset industry, has announced that its Investment division has financed a physical crude oil transaction. The transaction involved a publicly traded super-major oil company and a top-tier commodity trader, facilitating the loading and transporting of 670,000 barrels of Middle Eastern crude oil valued at $45 million. This marks Tether Investments' first crude oil transaction in the region and showcases its expanding role in global commodities trading. Tether aims to drive positive change in the trade finance industry by providing flexible capital solutions through its stablecoin, USD₮, which offers efficiency, speed, and lower costs compared to traditional lending methods. This transaction sets the stage for future lending opportunities across various sectors. Accredited counterparties interested in exploring these opportunities can contact Tether through a provided email address.
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