Categories: MarketsMenafn

Tether Moves to Further Expand Digitized Commodities Through Tokenized Borate Minerals

Leading stablecoin issuer Tether has approached officials in Turkey in a bid to overhaul the country’s borate minerals market through a digital currency representing tokenized versions of these minerals.

According to a recent Bloomberg report, the proposal would see Tether launch a tokenized version of borate minerals – minerals mostly used to manufacture ceramics, detergents, fertilizers, and glass – while also exploring the launch of a digital asset exchange in the country’s capital, Istanbul.

Turkey is estimated to have over 70% of global reserves of boron products, according to the country’s state-owned miner Eti Maden Isletmeleri Genel Mudurlugu, the monopoly provider of these products that’s estimated to make around $1.3 billion in sales this year.

The country is a notable cryptocurrency hotspot, as rampant inflation has made stablecoins tied to the value of the U.S. dollar increasingly popular among investors looking to preserve value.

According to Bloomberg’s report, the country received nearly $137 billion in cryptocurrency inflows in the 12 months through June of this year, the seventh-largest figure globally. However, government officials in Turkey were cited as saying the proposal can’t currently be implemented.

Tether’s growing commodity moves

The company’s flagship stablecoin USDT, has a total market capitalization of $120 billion and monetized the reserves backing the token through Treasuries and other cash equivalents that generate interest.

In the first half of the year Tether generated $5.2 billion in profit, which the firm has been investing across a variety of sectors. Including a $500 million investment plan into BTC mining operations in Uruguay, Paraguay, and El Salvador.

The firm also purchased a $100 million stake in Bitdeer technologies and is in discussions with a number of commodity trading firms about potential lending opportunities. The commodity trading industry relies on credit lines to maintain operations, as it often involves the movement of high-value shipments.

In January 2020, the leading stablecoin issuer launched a stablecoin backed by physical gold, Tether Gold (XAUT), which grew to a market capitalization of around $678 million. Earlier this year, it leveraged XAUT to launch Alloy (aUSDT), an overcollateralized stablecoin pegged to the U.S. dollar, and backed by gold.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Mubite Officially Launches as a Global Leader in Crypto Prop Trading

Prague, Czech Republic, October 6, 2025, ZEX PR WIRE— The future of funded crypto trading…

2 days ago

CZ Effect: Binance Lists Aster (ASTER) With Seed Tag After Weeks Of Hype

Aster’s native token, ASTER, has ridden a powerful endorsement cycle after Changpeng “CZ” Zhao publicly…

2 days ago

Verto Establishes DIFC Hub to Enable Faster, Smarter B2B Payments Across Africa and Emerging Markets

UAE now has a payment partner that unlocks Africa’s growing economic opportunity DUBAI, UAE, 6…

2 days ago

Guinness World Records Attempt in Forex Industry is announced

Dubai, UAE, 5th October, 2025, ZEX PR WIRE, Forex Expo Dubai, the Middle East’s largest…

2 days ago

Reliable Airport Taxi Service: Guaranteed Pickups, No Delays

London, England, 5th October 2025, ZEX PR WIRE, In today’s travel landscape, reliability has become…

3 days ago

Forex Expo Dubai 2025 Conference to Feature 150+ Global FX and Fintech Leaders

Part of the region’s largest forex and fintech gathering, the two-day conference on 6–7 October…

5 days ago