Stablecoin Tether (USDT) is considering entering the commodity business and lending to international commodities traders in developing markets. Tether's success and existing connections make this a potentially lucrative opportunity, especially as it faces competition in the stablecoin market. Tether's deep pockets and popularity in many countries could allow it to function as a line of credit for credit-starved businesses in the commodities industry. If successful, Tether could benefit greatly from this opportunity, as commodities markets are lucrative and there is a growing correlation between gold and crypto ETF markets. However, there are potential drawbacks, such as the risk of fraud and failures in commodities trading and the demand for higher profit margins by Tether as a lender. Tether's CEO states that they are in the early stages of this plan and believe the opportunities in commodity trading will be massive in the future.
- Content Editor ( beincrypto.com )
- 2024-10-15
Tether Explores Lending Opportunities With International Commodities Traders