Tether to accelerate push into commodity lending with cash, USDt credit
Tether is expanding its commodity-trade lending after deploying $1.5 billion in credit, marking a deeper shift from stablecoin issuer to global finance player.
Stablecoin issuer Tether is expanding its presence in commodity lending, with billions of dollars already deployed in the sector, according to CEO Paolo Ardoino.
In an interview with Bloomberg, Ardoino said Tether has extended about $1.5 billion in credit to commodities traders so far, providing financing in both cash and its USDt (USDT) stablecoin.
The company is targeting traditional commodity trades, including agricultural products and oil, and plans to increase its exposure. “We are going to expand dramatically,” Ardoino said.