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Bloomberg: Tether is exploring offering loans to commodity trading companies

Bloomberg: Tether is exploring offering loans to commodity trading companies

Bitget2024/10/15 03:37

According to Bloomberg citing informed sources, stablecoin issuer Tether is exploring offering loans to commodity trading companies in an attempt to allocate its billions of dollars in profits. It has discussed dollar loan opportunities with several companies in the credit-scarce industry. In an interview with Bloomberg, Tether CEO Paolo Ardoino confirmed that "the company is exploring opportunities in the commodities sector and these explorations are at an early stage; we may not disclose how much we intend to invest in commodity trading. We are still formulating strategies and are interested in exploring different possibilities for commodity trading." Insiders said that Tether has hired a team to develop trade financing opportunities, and its investment department, Tether Investments, evaluates hundreds of projects each month, focusing on alternative financial infrastructure in emerging markets, artificial intelligence and biotechnology.

In its latest financial statement released in July, Tether reported a profit of $5.2 billion for the first half of 2024.

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