Tether launches innovative financing solution TradeFi, using blockchain to promote global trade

Tether CEO Paolo Ardoino announced the launch of TradeFi at X, a new service aimed at promoting global trade through innovative financing solutions.

TradeFi expands Tether's growing product portfolio, which already includes stablecoins, asset tokenization and wallet development tools. This latest service aims to simplify international trade by providing cost-reducing and efficiency-enhancing financing solutions. The platform will facilitate the trading of major commodities such as crude oil and copper while enabling seamless settlements with USDT.

The Tether website states: "With the support of blockchain technology, we are simplifying trade processes, reducing costs and promoting financial inclusivity across industries and borders."

The launch of TradeFi follows Tether's first foray into crude oil trading in November last year. The company provided funding for a $45 million transaction in the Middle East involving 670 thousand barrels of oil. While no detailed information about participating companies was disclosed, Ardoino described it as the first step in a broader strategy to support more commodities and industries.