Tether has minted over $3 billion in USDT

Tether, the world’s largest stablecoin issuer, minted over $3 billion USDT in the last 24 hours. This action accumulates the company’s mint in a month.

According to LookOnChain’s post on X on November 24, Tether minted $3 billion USDT per day. It is split into two transactions, one involving $2 billion and the other involving $1 billion simultaneously; Both transactions go to the company’s treasury wallet.

Tether has minted over $13 billion since the beginning of November. The company printed money multiple times, including $9 billion on November 8, $1 billion on November 21, and $1 billion on November 23.

Stablecoin issuers printing their own money could be an indication of a positive move for the market as the demand for that money increases. Low printing activity of the issuer means a decline for the market.

Tether business from stablecoin to energy

Tether expanded its business line by collaborating with the United Arab Emirates (UAE) government. They launched a new stablecoin pegged to the dirham, backed entirely by the country’s reserve and pegged to the AED value.

They determined to tokenize the UAE’s dirham due to the company’s vision of making the UAE a major global economic hub. It will also meet the needs of the country’s financial market as one of the financial centers of Asia.

The company has also collaborated with Quantoz Payment to support the launch of euro and US stablecoin called EURQ and USDQ respectively.

In October, Tether’s investment arm financed a physical crude oil trade in a $45 million deal in USDT. This marked a significant move in its diversification strategy after being known as a stablecoin issuer for decades.

This initiative will make it easier for major publicly traded oil companies around the world to transfer their crude to a leading commodity trader. It will carry 670 thousand barrels of crude oil from Middle Eastern countries.

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