Trafigura Turns to Tether as Stablecoins Take on Commodities (1)

Commodity trading house Trafigura Group Pte Ltd. is in talks with Tether Inc. about a pilot project to use its stablecoin at fuel stations.

The pilot would focus on facilitating payments in petrol stations operated by Trafigura’s fuel distribution arm Puma Energy in El Salvador, according to people familiar with the matter, who said the discussions are at an early stage and subject to regulatory approvals.

Tether declined to comment. A spokesperson for Puma Energy said the firm “regularly explores new payment options to improve customer convenience and meet evolving payment preferences.”

Discussions about the El Salvador project “remain at ...