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MainNewsTether’s Inv...

Tether’s Investment Arm Announces Completion of Funding for Middle Eastern Crude Oil Trade


Nov, 08, 2024
2 min read
by Daily Hodl Staff
for The Daily Hodl

Tether’s Investment division is announcing the financing of a $45 million physical crude oil transaction between a major oil company and a commodity trader.

In a new announcement, the USDT-stablecoin issuer says that this transaction is Tether Investments’ first crude oil transaction in the Middle Eastern region, marking Tether’s expanding role in global commodities trading.

Says Tether CEO Paolo Ardoino of the transaction,

“Tether Investments’ financing of this significant crude oil transaction underscores our commitment to reshaping the trade finance landscape.

With USDT, we’re bringing efficiency and speed to markets that have historically relied on slower, more costly payment structures. This transaction marks the beginning, as we look to support a broader range of commodities and industries, fostering greater inclusivity and innovation in global finance.”

According to the announcement, the financing of this crude oil transaction shows Tether’s commitment to reshaping the trade finance landscape and promoting the use of USDT in transactions.

Two weeks ago at the 3rd Annual Lugano Plan B forum in Switzerland, the Plan B Initiative, a collaboration between Tether and the city of Lugano, revealed a statue honoring the faceless, pseudonymous creator of Bitcoin (BTC), Satoshi Nakamoto. The statue’s form paid homage to one of the core tenets of blockchain technology: decentralization.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Blue Planet Studio/WindAwake

The post Tether’s Investment Arm Announces Completion of Funding for Middle Eastern Crude Oil Trade appeared first on The Daily Hodl.

Read the article at The Daily Hodl

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Tether’s Investment Arm Announces Completion of Funding for Middle Eastern Crude Oil Trade


Nov, 08, 2024
2 min read
by Daily Hodl Staff
for The Daily Hodl

Tether’s Investment division is announcing the financing of a $45 million physical crude oil transaction between a major oil company and a commodity trader.

In a new announcement, the USDT-stablecoin issuer says that this transaction is Tether Investments’ first crude oil transaction in the Middle Eastern region, marking Tether’s expanding role in global commodities trading.

Says Tether CEO Paolo Ardoino of the transaction,

“Tether Investments’ financing of this significant crude oil transaction underscores our commitment to reshaping the trade finance landscape.

With USDT, we’re bringing efficiency and speed to markets that have historically relied on slower, more costly payment structures. This transaction marks the beginning, as we look to support a broader range of commodities and industries, fostering greater inclusivity and innovation in global finance.”

According to the announcement, the financing of this crude oil transaction shows Tether’s commitment to reshaping the trade finance landscape and promoting the use of USDT in transactions.

Two weeks ago at the 3rd Annual Lugano Plan B forum in Switzerland, the Plan B Initiative, a collaboration between Tether and the city of Lugano, revealed a statue honoring the faceless, pseudonymous creator of Bitcoin (BTC), Satoshi Nakamoto. The statue’s form paid homage to one of the core tenets of blockchain technology: decentralization.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Blue Planet Studio/WindAwake

The post Tether’s Investment Arm Announces Completion of Funding for Middle Eastern Crude Oil Trade appeared first on The Daily Hodl.

Read the article at The Daily Hodl

Read More

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