Stablecoin issuer Tether has resumed providing new loans denominated in USDT to clients, a move that comes nearly a year after the company had announced its intention to discontinue offering collateralized loans in 2023.

The revelation comes from the company’s latest quarterly financial update, which indicates an increase in USDT-denominated loans. As of June 30, the report showed assets that included $5.5 billion in loans, up from $5.3 billion in the previous quarter.

The Wall Street Journal earlier today cited Tether spokesperson Alex Welch, who confirmed that the company has indeed extended new loans during the second quarter of 2023.

“We received a few short-term loan requests from clients with whom we have cultivated longstanding relationships, and we made the decision to accommodate these requests.” Welch explained.

According to Welch, there were two primary reasons for the loans: the first was to prevent any depletion of customer liquidity, ensuring that clients could continue their operations without facing liqui

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Author: Andrew Asmakov

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