CEO Paolo Ardoino announced the launch of TradeFi on X, a new service aimed at promoting global trade through innovative financing solutions.
TradeFi expands Tether’s growing product portfolio, which already includes stablecoins, asset tokenization, and wallet development tools. This latest service aims to simplify international trade by providing financing solutions that reduce costs and improve efficiency. The platform will facilitate the trading of important commodities such as crude oil and copper, while also allowing seamless settlements with USDT.
Tether’s website states: “With the support of blockchain technology, we are simplifying trade processes, reducing costs, and promoting financial inclusion across industries and borders.”
The launch of TradeFi follows Tether’s first foray into crude oil trading in November last year. The company provided financing for a $45 million transaction in the Middle East involving 670 thousand barrels of oil. While no detailed information was released about the participating companies, Ardoino described it as the first step in a broader strategy to support more commodities and industries.
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