Finance
Print
Tether Trade Finance Completes Funding of First Middle Eastern Crude Oil Transaction

8 November 2024 – Tether, the largest company in the digital asset industry today announced that its Investment division has financed a physical crude oil transaction between a publicly traded super-major oil company and a top-tier commodity trader. Completed in October 2024, the transaction was to facilitate the loading and transporting of 670,000 barrels of Middle Eastern crude oil, valued at approximately $45 million. This transaction marks Tether Investments’ first crude oil transaction in the region and highlights the company’s expanding role in global commodities trading.

Launched earlier this year, Tether’s Trade Finance business has quickly scaled to support the $10 trillion trade finance industry by providing accessible capital solutions that streamline and modernize global trade flows. This new venture, part of Tether Investments, is separated from Tether’s Stablecoin reserves and leverages the company’s high profitability as demonstrated in its recently published quarterly attestation for Q3/2024. Tether aims to help drive positive change within the trade finance industry by providing flexible capital solutions to a wide range of companies and driving efficiency in trade flows through its stablecoin, USD₮.

“Tether Investments’ financing of this significant crude oil transaction underscores our commitment to reshaping the trade finance landscape,” said Paolo Ardoino, CEO of Tether. “With USD₮, 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.”

Tether is driving the use of USD₮ in trade finance transactions, which lowers costs and reduces payment times – a distinct benefit over traditional lending – while leveraging top-tier compliance and AML standards, boosted by the transparency of blockchain networks.

While this transaction represents the first of its kind, it paves the way for a wider range of lending opportunities, spanning the financial, technology, agricultural, and asset-backed sectors.

Accredited counterparties interested in exploring such opportunities are invited to reach out to: [email protected]

latest news

Tether Acknowledged by DOJ for Support in $225M Seizure Linked to Pig Butchering Fraud

18 June 2025 – Tether, the largest company in the digital assets industry, today announced that it has been acknowledged by the United States Department of Justice (DOJ) for its assistance in a major enforcement action involving the seizure of approximately $225 million in USDt. The funds were linked to an extensive “pig butchering” fraud […]

Learn more
Tether Acquires Strategic Stake in Elemental Altus to Deepen Push Into Gold and Hard Asset-Backed Financial Infrastructure

12 June 2025 – Tether Investments S.A. de C.V. (“Tether Investments”), an affiliate of the Tether Group, has announced the acquisition of a substantial stake in Elemental Altus Royalties Corp. (“Elemental”), a publicly listed gold-focused royalty company based in Canada. The investment marks a significant step in Tether’s broader strategy to integrate long-term, stable assets such […]

Learn more
Tether Invests in Shiga Digital to Strengthen Africa’s On-Chain Financial Ecosystem

5 June 2025 — Tether, the largest company in the digital asset industry, today announced a strategic investment in Shiga Digital, a modern platform that offers pan-African access to blockchain-based financial solutions, usable in the real world and easily accessible. Shiga Digital offers virtual accounts, OTC services, treasury management, and foreign exchange (FX) services tailored […]

Learn more
Read all news