2024

Waves

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    <h4 class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><strong>The company’s investment branch recently <a href="https://tether.io/news/tether-trade-finance-completes-funding-of-first-middle-eastern-crude-oil-transaction/" target="_blank" rel="noopener noreferrer nofollow">financed</a> a large oil transaction involving 670,000 barrels of crude oil from the Middle East.</strong></h4>
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      <p>This oil, valued at around $45 million, was traded by a well-known global oil company. The buyer was a top-tier commodity trader.</p>
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            <h5><strong>Tether Makes Waves with First Oil Trade Financing</strong></h5>
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<p>The deal, completed in October 2024, marks Tether Investments’ very first oil transaction in this region. Tether isn’t just about digital currency anymore. Earlier this year, Tether launched a Trade Finance division to help boost the $10 trillion trade finance industry.</p>
<p>Trade finance is a bit like the fuel that keeps the world economy running, helping goods get from one place to another. Tether’s new division focuses on providing the funding that companies need to move products quickly and efficiently.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Tether Investments (separated from stablecoin reserves) completed in October 2024 its first transaction to facilitate the loading and transporting of 670,000 barrels of Middle Eastern crude oil, valued at approximately $45 million.</p>
 <p>With USD₮, we’re bringing efficiency and… <a href="https://t.co/As9FLFzAZE" rel="noopener noreferrer nofollow">https://t.co/As9FLFzAZE</a></p>
 <p>— Paolo Ardoino <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f916.png" alt="🤖" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f350.png" alt="🍐" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@paoloardoino) <a href="https://twitter.com/paoloardoino/status/1854897147499397437?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 8, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>By financing trade, Tether Investments is looking to make trade faster, cheaper, and more efficient. This is part of Tether’s plan to reshape global trade finance. Tether believes that its highly profitable business model is shown in its recent Q3/2024 report.</p>
<h5><strong>More ABout Tether &amp; Oil Trades</strong></h5>
<p>Paolo Ardoino, the CEO of Tether, expressed his excitement about this major step forward. “Financing this oil deal is just the tip of the iceberg for Tether Investments,” he said. Ardoino explained that USDT, Tether’s stablecoin, has a role to play in making trade quicker and easier. In global markets that traditionally depend on slow and costly payment systems, Tether aims to speed things up and cut down on costs, allowing companies to “get the ball rolling” faster.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Tether Trade Finance Completes Funding of First Middle Eastern Crude Oil Transaction</p>
 <p>Read more: <a href="https://t.co/SENypbSSm6" rel="noopener noreferrer nofollow">https://t.co/SENypbSSm6</a></p>
 <p>— Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1854887392257142927?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 8, 2024</a></p>
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<p>But Tether isn’t stopping at oil. With its Trade Finance division, <a href="https://www.altcoinbuzz.io/?s=tether" target="_blank" rel="noopener noreferrer nofollow">Tether</a> plans to support a wider range of products. From metals to agricultural goods. Their mission is to make global trade more inclusive. This means that more companies can join in without facing as many financial obstacles. Ardoino’s vision is one where Tether helps build “a well-oiled machine” in the world of finance.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/tethers-first-big-step-into-oil-trade-with-45m-deal/" rel="noopener noreferrer nofollow">Tether’s First Big Step into Oil Trade with $45M Deal</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Tether’s First Big Step into Oil Trade with $45M Deal

Altcoin Buzz

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