Tether has made its debut in the commodities market by financing a $45 million deal for transporting 670,000 barrels of Middle Eastern crude oil. The transaction, facilitated in October 2024, involved a publicly traded oil company and a commodity trader, marking Tether's entry into this sector. This initiative was led by Tether's Trade Finance division, focused on integrating blockchain technology into traditional trade finance operations. CEO Paolo Ardoino emphasized that Tether aims to enhance efficiency and speed in trade, moving away from slower payment structures traditionally used in the industry. Tether has indicated intentions to support a wider range of commodities and industries in the future. Recently, the company reported third-quarter earnings of $7.7 billion, reflecting its strengthened financial position, with total assets reaching $134.4 billion as of September 30, mostly in US Treasury bills. Tether holds around 7,100 Bitcoin, valued at over $530 million, and is diversifying investments across various sectors including renewable energy and AI.

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