Trafigura and Tether Explore USDT Payments at Salvadoran Fuel Stations

Trafigura Group, a multinational commodity trading company, is in discussions with Tether regarding a pilot project to use the stablecoin USDT for payments at fuel stations in El Salvador, according to Bloomberg. The pilot will focus on Puma Energy-operated fuel stations, a subsidiary of Trafigura, where Salvadoran consumers can pay for fuel or snacks using USDT. These payments will be converted into U.S. dollars by an intermediary before being transferred to Trafigura. The discussions are in the early stages and require regulatory approval. A Puma Energy spokesperson stated that the discussions are still in the exploratory technical phase. This marks the first known collaboration involving stablecoin usage between Tether and a major commodity trader. Previously, Tether had mentioned funding an oil transaction without disclosing specific details.