Stablecoin Issuer Tether (USDT) company Tether expects to make some money on loans to businesses.
The company’s director, Paolo Ardoino, announced that his organization will compete with banks and issue short-term loans in dollars and USDT to companies that produce oil, cotton, wheat, and other commodities, as well as to buyers of these commodities and traders who trade them. The total amount allocated for loans is approximately $1,5 billion.
We’re unlikely to release specific investment figures for commodity trade. Our strategy is still being formulated, but the prospects are promising,» Ardoino noted.
Paolo Ardoino
Loans from TetherThey will likely be in demand in emerging markets focused on oil and agricultural exports, as cryptocurrency transactions can be freely made globally and are processed in minutes, if not seconds. Russian farmers have not been subject to economic sanctions, so they could theoretically borrow stablecoins from the issuer and use them as working capital.
Diversification of business will allow Tether gain a new source of revenue and strengthen its financial position. The company is expected to earn $15 billion this year, and its market capitalization will reach $500 billion if the rumors prove true and management attracts $20 billion in investment. In that case, Tether will overtake giants like Netflix and Samsung in market capitalization.