Tether is a tocken issued by Tether Limited company which belongs to the Bitfinex trading platform. It was built on top of Omni Layer digital currency protocol, which works on the Bitcoin blockchain.
The main purpose of this token is to provide stability to traders and members of cryptocurrency market, because Tether is claimed to be backed by US dollars on Tether Ltd bank accounts, so its price is not as volatile as prices of other cryptocurrencies. However, that remains yet to be proven andShow more [+] is is the reason why the U.S. Commodity Futures Trading Commission issued subpoenas to both Tether and Bitfinex. Also Tether Ltd underlines that the Tether token is not a financial instrument, and the owners of Tethers have no rights for legal claims or guarantees against losses.
Nevertheless, tether is a very popular token and is used by a number of exchanges (mostly the crypto to crypto only ones) as their main stablecoin. The amount of Tethers grew up to $2.8 billion. During summer 2018 around 80% of Bitcoin volume was traded in Tethers.
Beyond Stablecoins: Tether Ventures into Oil and AI to Diversify Revenue Streams
Tether, the parent company of USDT, is positioning itself to become a major player in the commodity trading market, signaling a strategic shift beyond its established role as a stablecoin issuer. In October, Tether announced its entry into commodities with a $45 million oil deal, involving the transportation of 670,000 barrels of crude oil from […]
The post Beyond Stablecoins: Tether Ventures into Oil and AI to Diversify Revenue Streams appeared first on Today's Gazette.
Tether, the parent company of USDT, is positioning itself to become a major player in the commodity trading market, signaling a strategic shift beyond its established role as a stablecoin issuer. In October, Tether announced its entry into commodities with a $45 million oil deal, involving the transportation of 670,000 barrels of crude oil from […]
The post Beyond Stablecoins: Tether Ventures into Oil and AI to Diversify Revenue Streams appeared first on Today's Gazette.
Tether to start lending commodity traders as it seeks to deploy profits
Tether, the issuer of USDT, the world’s largest stablecoin, is exploring new ways to use its massive profits. And so the company is now looking into lending to commodity traders. This could seriously shake up the sector, which typically relies on banks for credit. Tether has already been having private talks with several companies that […]
Tether, the issuer of USDT, the world’s largest stablecoin, is exploring new ways to use its massive profits. And so the company is now looking into lending to commodity traders. This could seriously shake up the sector, which typically relies on banks for credit. Tether has already been having private talks with several companies that […]
Tether Eyes Commodities Lending as it Looks to Deploy Billions in Profits from $USDT: Bloomberg
Tether Holdings Ltd, the company behind the world’s largest stablecoin, USDT, is expanding its horizons by exploring lending opportunities in the commodities trading sector. According to a report for Bloomberg News by Archie Hunter and Olga Kharif, the firm has been in talks with several commodities trading companies, considering US dollar lending as a new avenue to […]
Tether Holdings Ltd, the company behind the world’s largest stablecoin, USDT, is expanding its horizons by exploring lending opportunities in the commodities trading sector. According to a report for Bloomberg News by Archie Hunter and Olga Kharif, the firm has been in talks with several commodities trading companies, considering US dollar lending as a new avenue to […]
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