Tether Plans to Enter Commodity Market

Tether Holdings Ltd is exploring lending possibilities for commodity traders using USDT reserves. The company is in talks with market participants while looking to go beyond the cryptocurrency sphere.

Tether, the issuer of USDT, the largest stablecoin by market cap, is considering entering the commodity market by offering loans to traders using its crypto reserves. According to Bloomberg, the company is in talks with leading industry players.

The main goal of Tether’s initiative is to diversify its assets and strengthen its presence in traditional financial markets. This approach can not only expand the company’s capabilities but also increase its influence in global financial flows, especially in the context of growing demand for stablecoins and digital assets. In parallel, Tether is actively working to maintain transparency of its reserves in order to gain trust of investors and partners.

According to Tether Holdings Ltd’s latest financial report, the company’s profit in H1 2024 was $5.2 billion. Paolo Ardoino, CEO of Tether, confirmed that the company is exploring various trade finance opportunities and even hired a team to develop strategies in this area. Ardoino said that Tether’s initiative could change the approach to financing in commodity markets, where liquidity and transparent credit mechanisms play a key role.

Tether previously allocated around $500 million to build its own mining facilities, with the aim of owning 1% of Bitcoin’s computing power.

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