Tether Completes First USDT-Based Crude Oil Transaction in Middle East

USDT Stablecoin issuer Tether said on November 8 that it completed funding its first crude oil transaction in the Middle East. The firm is expanding its ventures beyond its flagship digital assets product as part of a plan to become a leader in commodities trading. This transaction, facilitated by Tether Investments, involved the loading and transport of 670,000 barrels of Middle Eastern crude oil between a major publicly traded oil company and a top-tier commodity trader. The new venture is part of Tether’s Trade Finance division, which was launched in 2024 to support the $10 trillion trade finance market.

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