Tether in Talks With Commodity Traders Over Lending Its Billions

Tether Holdings Ltd is exploring lending to commodities trading companies as it looks at ways to deploy its billions of dollars in profits, a move that could shake up an industry typically reliant on traditional banks for credit.

The crypto company — which is the issuer of the world’s largest stablecoin, USDT — has discussed US dollar lending opportunities with several firms across the credit-hungry sector, according to people familiar with the matter who asked not to be identified discussing private conversations.

Tether’s meetings with traders have also included conversations about how its stablecoin, which has already gained traction as ...