As a seasoned crypto investor with a keen eye for market trends and a knack for recognizing potential, I must admit that Tether’s latest move into tokenization and expansion into energy and commodities has piqued my interest significantly. The Hadron platform, with its robust KYC/AML controls, presents an exciting opportunity to bring traditional financial instruments into the digital age, fostering a more inclusive future as stated by their CEO Paolo Ardoino.
Tether, the stablecoin issuer, unveiled a platform named Hadron, designed for tokenizing real-world assets. This innovative platform enables companies, asset managers, and even countries to create and control digital tokens representing various financial instruments in the real world.
As an analyst, I’ve learned that, following Tether’s announcement, users can now convert various real-world assets such as stocks, bonds, stablecoins, loyalty points, and more into digital form on their platform. Notably, the platform is equipped with stringent KYC and AML measures to ensure a secure environment. Paolo Ardoino, Tether’s CEO, made this statement in conjunction with the platform launch.
“While traditional finance institutions have always pushed for closed ecosystems that are opaque to citizens, Hadron by Tether reinforces our commitment to building a more inclusive future.”
Additionally, Hadron will offer “digital asset baskets collateralized by real-world items.” These enable countries and companies to create digital tokens that represent groups of physical commodities or other tangible, securitized assets.
Attention has been rekindled on baskets containing various commodities and traditional currencies, due to the BRICS supra-national organization’s plan for revising the International Monetary Fund’s Special Drawing Rights (SDR), which is an international reserve asset made up of several common currencies.
Tether expands into energy and proposes commodity-backed tokens
The launch of Tether’s Hadron tokenization platform coincides with their efforts to delve deeper into creating energy and commodity-based blockchain tokens.
In October 2024, Tether suggested a cryptocurrency backed by boron to the Turkish authorities. The country accounts for nearly 70% of the global boron reserves, a mineral that is utilized in numerous areas such as fertilizer production, household cleaning products, and glass manufacturing.
During the same month, the company behind the stablecoin also ventured into oil trading. A significant $45 million deal involving Tether’s USDT stablecoin facilitated the transportation of approximately 670,000 barrels of oil from the Middle East.
Tether also unveiled the debut of a newly created stablecoin tied to the UAE’s national currency, the dirham, on the TON blockchain at the TON Gateway gathering in Dubai. This marks the launch of the stablecoin.
In their Q3 2024 financial statement released on October 31, the stablecoin company announced a profit of around $2.5 billion and disclosed that they held roughly $134 billion in overall assets.
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2024-11-14 22:24