Tether said its investment arm financed 670,000 barrels of Middle East crude oil worth $45 million. The issuer of the USDT stablecoin wants to play a role in the crucial $10 trillion global trade finance industry.

Stablecoin issuer Tether said it completed the funding of its first crude oil transaction in the Middle East as part of a plan to become a lender in commodities trading.

Tether, issuer of the USDT stablecoin, has financed its first major crude oil transaction in the Middle East, moving 670,000 barrels valued at $45 million. This marks a significant entry into commodities for

Tether has made the funding for the first time for crude oil transactions in the Middle East. This action is part of stablecoin’s issuer’s bigger plan to expand its business in the world of commodity trading.