TechFlow news — On November 8, according to an official blog post, Tether announced that its investment arm, Tether Trade Finance, has completed a physical crude oil trade finance transaction between a publicly listed oil giant and a top-tier commodities trader. The deal, finalized in October 2024, involved the loading and transportation of 670,000 barrels of Middle Eastern crude oil valued at approximately $45 million, marking Tether Investments' first crude oil transaction in the region.
Tether’s trade finance business, launched earlier this year, is rapidly expanding and delivering streamlined capital solutions to the $10 trillion global trade finance industry. Operated under Tether Investments, this division is entirely separate from Tether's stablecoin reserves. According to the company’s latest audited report for Q3 2024, it continues to maintain strong profitability.
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