The post Tether Expands Commodity Lending With $1.5B in Trade Credit appeared on BitcoinEthereumNews.com. Stablecoin issuer Tether is expanding its presence in commodity lending, with billions of dollars already deployed in the sector, according to CEO Paolo Ardoino.  In an interview with Bloomberg, Ardoino said Tether has extended about $1.5 billion in credit to commodities traders so far, providing financing in both cash and its USDt (USDT) stablecoin. The company is targeting traditional commodity trades, including agricultural products and oil, and plans to increase its exposure. “We are going to expand dramatically,” Ardoino said. The lending activity falls within Tether’s recently launched Trade Finance unit — a business line that typically focuses on short-term credit used to facilitate the movement of goods across global supply chains. In the commodities world, trade finance typically provides the funding traders need to purchase, transport and deliver cargoes. Bloomberg reported that some companies may be hesitant to borrow in USDt rather than dollars, though that reluctance might be outweighed by Tether’s growing financial clout. With nearly $184 billion worth of USDt in circulation, Tether is now among the most profitable companies in the world on a per-employee basis. Tether’s push into commodities builds on its existing footprint in the sector. Its tokenized gold product, Tether Gold, has surged in size during the bullion’s rally, and Ardoino recently said the company holds more than 100 tons of physical gold. Source: Cointelegraph Related: Tether’s stablecoin business set for another record year of profitability The stablecoin engine driving Tether’s diversification Tether’s rapid expansion into new business lines is rooted in the success of its stablecoin operation. USDt was originally created to give crypto traders a dollar-linked asset at a time when the industry struggled to access traditional banking services. Since then, stablecoins have evolved into a mainstream financial tool used for remittances, cross-border payments and onchain settlement — valued for their… The post Tether Expands Commodity Lending With $1.5B in Trade Credit appeared on BitcoinEthereumNews.com. Stablecoin issuer Tether is expanding its presence in commodity lending, with billions of dollars already deployed in the sector, according to CEO Paolo Ardoino.  In an interview with Bloomberg, Ardoino said Tether has extended about $1.5 billion in credit to commodities traders so far, providing financing in both cash and its USDt (USDT) stablecoin. The company is targeting traditional commodity trades, including agricultural products and oil, and plans to increase its exposure. “We are going to expand dramatically,” Ardoino said. The lending activity falls within Tether’s recently launched Trade Finance unit — a business line that typically focuses on short-term credit used to facilitate the movement of goods across global supply chains. In the commodities world, trade finance typically provides the funding traders need to purchase, transport and deliver cargoes. Bloomberg reported that some companies may be hesitant to borrow in USDt rather than dollars, though that reluctance might be outweighed by Tether’s growing financial clout. With nearly $184 billion worth of USDt in circulation, Tether is now among the most profitable companies in the world on a per-employee basis. Tether’s push into commodities builds on its existing footprint in the sector. Its tokenized gold product, Tether Gold, has surged in size during the bullion’s rally, and Ardoino recently said the company holds more than 100 tons of physical gold. Source: Cointelegraph Related: Tether’s stablecoin business set for another record year of profitability The stablecoin engine driving Tether’s diversification Tether’s rapid expansion into new business lines is rooted in the success of its stablecoin operation. USDt was originally created to give crypto traders a dollar-linked asset at a time when the industry struggled to access traditional banking services. Since then, stablecoins have evolved into a mainstream financial tool used for remittances, cross-border payments and onchain settlement — valued for their…