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

Odaily Planet Daily News: Tether CEO Paolo Ardoino announced the launch of TradeFi on X, a new service aimed at promoting global trade through innovative financing solutions. TradeFi has expanded Tether's growing product portfolio, which now includes stablecoins, asset tokenization, and wallet development tools. This latest service aims to simplify international trade by providing financing solutions that reduce costs and improve efficiency. This platform will facilitate the trading of major commodities such as crude oil and copper, while utilizing USDT for seamless settlement. The Tether website shows: "With the support of blockchain technology, we are simplifying trade processes, reducing costs, and promoting cross industry and cross-border financial inclusion The launch of TradeFi followed Tether's first crude oil trading in November last year. The company provided funding for a $45 million transaction in the Middle East involving 670000 barrels of oil. Although detailed information about the participating companies has not been disclosed, Ardoino describes it as the first step towards a broader strategy to support more products and industries.