TechFlow news, on February 20, according to CryptoSlate, stablecoin issuer Tether has launched a new business line called TradeFi, aiming to optimize global trade finance processes through blockchain technology.
The business will use the USDT stablecoin as a settlement tool, focusing on cross-border transactions for commodities such as crude oil and copper. In November last year, Tether completed its first crude oil trade financing worth $45 million, involving 670,000 barrels of crude oil.
Currently, the market capitalization of USDT issued by Tether has exceeded $140 billion, accounting for approximately 70% of the stablecoin market share.
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