Tether has completed its first USDT-backed crude oil transaction in the Middle East, valued at $45 million, marking a significant expansion into commodities trading. USDT Stablecoin issuer Tether said on November 8 that it completed funding its first crude oil transaction in the Middle East.

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 Tethe has debuted on the commodities market by financing a $45 million crude oil transaction. According to a Nov. 8 announcement, the deal involved a publicly traded oil company and a commodity trader.

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

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 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.