Tether, a leader in cryptocurrency, is reportedly exploring expansion into Turkey’s commodity markets through a unique proposal to tokenize boron, aiming to bring new efficiencies to this critical resource.
According to an anonymous sources, Tether has pitched a plan to create a boron token for use within Turkish markets, marking a potential first step into the broader tokenized commodities sector. This initiative may also include launching a national boron exchange in Istanbul, establishing a streamlined platform for boron transactions.
Although not widely known outside of industrial sectors, boron is a valuable mineral used in products ranging from glass and metals to fertilizers. Turkey holds around 70% of the world’s boron reserves, and the country’s boron exports are projected to reach $1.3 billion this year, underscoring the strategic importance of this resource to the Turkish economy.
A Turkish government official confirmed preliminary discussions around the proposal, though the plan has not yet reached a stage where implementation is possible. Reports indicate that an Energy Ministry representative noted the talks are in an early phase, with no formal agreements reached.
While Tether CEO Paolo Ardoino did not directly confirm the initiative, he emphasized Tether’s commitment to supporting Turkey’s digital asset innovations.
This proposal reflects Tether’s continued growth beyond stablecoins, as it branches into sectors such as artificial intelligence, green energy, education, and even neurotechnology. Through these ventures, Tether is positioning itself as a diversified player within digital finance and innovative tech.
Tether recently disclosed plans to enter the private lending market, aimed at offering credit solutions to commodity traders. Despite these ventures, Tether’s primary product remains its USDT stablecoin, which recently achieved a market cap of $120 billion.