ether Holdings, the Tether’s (stable-coin) parent company is looking into expanding its business outside the cryptocurrency market and offer services in the traditional financial market, even considering including potential lending to commodities trading firms. This marks a huge shift and expansion into Tether Holdings Business services.
Commodity Market Focus:
Tether is negotiating with commodity traders on ways through which it will provide the traders with US dollars in bid to solve credit issue affecting the traders. This will provide more efficient and faster ways to process transactions than traditional lenders.
Financial Performance:
According to Tether data, the company has generated $5.2 billion of profit in the first half of 2024 alone, mostly through interest income on its stable assets such as the US Treasury bills.
Expansion Strategy:
The firm has established new business sectors for data, finance and power, education as well as trying to incorporate USDT more into traditional financial assets such as the commodity markets.
Tether Bridges Crypto and TradFi Gap:
Thether’s business expansion and diversification strategies, is a huge milestone and will enable Tether to close the gap between the cryptocurrency market and other financial market.
