Tether, the company behind the USDT stablecoin, has used its assets to fund a $45 million crude oil transaction in the Middle East. This marks the first such deal for Tether and highlights how crypto firms are now engaging in traditional finance. Tether CEO Paolo Ardoino stated that the company aims to use USDT to enhance efficiency and speed in markets that previously relied on costlier and slower structures.
Tether aims to support a wider range of commodities and industries through its Trade Finance division, fostering greater inclusivity and innovation in global finance.
