Tether has provided approximately $1.5 billion in credit support to commodity traders, continuing to expand its commodity lending business.
Jinse Finance reported that Tether CEO Paolo Ardoino stated in an interview that, to date, Tether has provided approximately $1.5 billion in credit support to commodity traders, with financing in the form of both cash and its USD-pegged stablecoin USDt (USDT). Tether is currently focusing on traditional commodity trading sectors such as agricultural products and oil, and plans to further expand its business exposure in this field. Ardoino said: "We will significantly expand this business." This lending business falls under Tether's recently launched Trade Finance unit—a business line typically focused on providing short-term credit to facilitate the flow of goods in global supply chains. In the commodities sector, trade finance services generally provide traders with the funding needed for procurement, transportation, and delivery of goods.
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