Tether announced the financing of a $45 million deal in physical oil between a major oil company and a commodity trader, completed in October 2024, including the transportation of 670,000 barrels of oil from the Middle East 🚢

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November 8, 2024 – Tether announced the financing of a physical oil deal between a major oil company and a commodity trader. The deal, completed in October 2024, involved the transportation of 670,000 barrels of oil from the Middle East worth around $45 million. This is Tether Investments' first experience in oil trading in this region.

Tether's new business, Tether Trade Finance, provides capital solutions for $10 trillion in trade and helps improve global trade flows with USD₮. The company aims to reduce transaction costs and time while enhancing AML compliance through blockchain.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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