{"id":18439,"date":"2024-11-08T19:21:15","date_gmt":"2024-11-08T17:21:15","guid":{"rendered":"https:\/\/forklog.com\/en\/tether-facilitates-45-million-oil-deal\/"},"modified":"2024-11-08T19:21:15","modified_gmt":"2024-11-08T17:21:15","slug":"tether-facilitates-45-million-oil-deal","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tether-facilitates-45-million-oil-deal\/","title":{"rendered":"Tether Facilitates $45 Million Oil Deal"},"content":{"rendered":"

Tether’s investment arm has financed a crude oil supply deal worth $45 million in USDT, according to a press release<\/a>. <\/p>\n

The transaction, involving a total of 670,000 barrels, was conducted back in October by an unnamed “major” Middle Eastern oil firm and a commodity trader. <\/p>\n

The intermediary was Tether Trade Finance, a division of Tether Investments, which is separate from the stablecoin’s reserves and uses the parent company’s capital.<\/p>\n

\n

“With USDT, we bring efficiency and speed to markets that have historically relied on slower and more costly payment structures. This deal marks the beginning as we aim to support a broader range of commodities and industries, fostering greater inclusivity and innovation in global finance,” stated Tether CEO Paolo Ardoino.<\/p>\n<\/blockquote>\n

While this transaction is “the first of its kind,” it opens up new lending opportunities in various directions, the company emphasized. <\/p>\n

News of Tether’s plans to enter the commodities markets first emerged in October. In June, Ardoino announced an intention to allocate over $1 billion<\/a> for distribution among startups from “hundreds of venture proposals.”<\/p>\n

In the third quarter, the USDT issuer reported a net profit of $2.5 billion. Since the beginning of the year, the figure has reached $7.7 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tether’s investment arm has financed a crude oil supply deal worth $45 million in USDT, according to a press release. The transaction, involving a total of 670,000 barrels, was conducted back in October by an unnamed “major” Middle Eastern oil firm and a commodity trader. The intermediary was Tether Trade Finance, a division of Tether […]<\/p>\n","protected":false},"author":1,"featured_media":18438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1245],"class_list":["post-18439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18439"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18438"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}