Tether's investment arm completes first crude oil transaction

DIGITAL asset industry giant Tether has revealed its investment division has financed a physical crude oil transaction between a publicly traded major oil company and a top-tier commodity trader.

Completed in October, the transaction was to facilitate the loading and transporting of 670,000 barrels of Middle Eastern crude oil, valued at approximately $45 million.

It was done through Tether’s Trade Finance business which is part of Tether Investments, and is separated from Tether’s Stablecoin reserves to leverage the company’s high profitability.

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

“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.”

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