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Tether, the company behind USDT, the world’s largest stablecoin, is preparing to take a new step in the financial sector. The company is evaluating multibillion-dollar lending opportunities to respond to the need for financing in the global commodity trade.
Tether’s USDT stablecoin is said to offer an alternative solution, especially for commodity firms affected by the restrictions of banking systems.
Tether’s proposal could play a critical role, especially for firms in sanctioned countries such as Venezuela and Russia. By using USDT instead of the US dollar, these trading firms may find the opportunity to bypass sanctions in the global market.
Moreover, the company is not subject to traditional banking regulations, allowing for faster trade deals and providing an attractive alternative for small- to medium-sized commodity firms.
The firm’s CEO Paolo Ardoino confirmed the company’s plans to invest in commodity trading, stating that their research is in the early stages. Ardoino said that Tether will continue to explore different commodity trading opportunities and believes that these opportunities could yield significant results in the future.
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