According to sources familiar with the situation, at meetings between Tether representatives and traders and producers in the commodity industry, issues of organizing credit lines in USDT stablecoins were discussed.
What makes Tether’s offering particularly attractive is that lending terms will not be constrained by the regulatory requirements of traditional lenders. In addition, USDT lending will provide full access to the financial borrowing market for minor commodity market participants and sanctioned companies.
In comments to Bloomberg, a Tether representative confirmed that the company is exploring lending opportunities in the commodity sector, but declined to disclose the list of interested companies and the potential size of the loan portfolio.
“We will not disclose where or how much we intend to invest in the commodity trading industry. We are still defining the strategy. The company is interested in exploring the possibilities of lending for commodity trading and sees great prospects in this,” Tether said.
Previously, Cyber Capital founder Justin Bons said that Tether’s 75% dominance in the stablecoin market increases concerns among crypto industry participants about its possible negative impact on the industry. Bones called Tether “one of the biggest existential threats to the entire crypto industry.”
Source: Bits
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