PANews November 8 news, according to the official blog, digital asset company Tether announced that its investment department provided financing for a physical crude oil transaction between a publicly listed super oil company and a top-tier commodity trader. The transaction was completed in October 2024 and aims to facilitate the loading and transportation of 670,000 barrels of Middle Eastern crude oil, valued at approximately $45 million. This transaction marks Tether Investments' first crude oil transaction in the region.
Tether's trade financing business Tether Trade Finance was launched earlier this year, quickly scaling up by providing convenient capital solutions that streamline and modernize global trade processes to support the trade financing industry. This new venture is part of Tether Investments.