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Tether Explores USD Lending to Commodities Trading Companies with Billions in Profits

Oct 14, 2024, 03:44 PM

Tether Holdings Ltd is exploring lending to commodities trading companies as it seeks to deploy its billions of dollars in profits. This move could significantly impact an industry that has traditionally relied on banks for credit. By entering the commodities lending market, Tether aims to leverage its substantial financial resources to provide USD credit to mid- and lower-tier traders, who often face a shortage of working capital. Top-tier names like Vitol and Trafigura are well-funded, but this initiative targets those with lucrative trades but limited capital. This strategic shift is part of Tether's broader efforts to diversify its business operations and utilize its profits more effectively.