The post Tether Trade Finance Completes Funding of First Middle Eastern Crude Oil Transaction appeared first on Coinpedia Fintech News
In the latest announcement, Tether has revealed that it 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. 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.