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

Odaily Planet Daily News Tether CEO Paolo Ardoino announced the launch of TradeFi, a new service aimed at promoting global trade through innovative financing solutions on X. TradeFi has expanded its product portfolio to include Tether’s growing range of products, which already includes stablecoins, asset tokenization, and wallet development tools. This latest service aims to simplify international trade by providing cost-effective and efficient financing solutions. The platform will facilitate the trading of major commodities such as crude oil and copper, while enabling seamless settlement using 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 comes after Tether’s first crude oil trade in November last year. The company provided funding for a $45 million transaction in the Middle East, involving 670,000 barrels of oil. While details of the participating companies were not disclosed, Ardoino described it as the first step in supporting a broader strategy for more commodities and industries.