Commodity traders are getting debanked due to Iran war, pushing them to rely on stablecoins

What Happened

Commodity traders are being excluded from traditional banking systems due to Iran-related compliance concerns, forcing them toward stablecoins like Tether's USDT. Western banks fear indirect exposure to sanctioned Iranian entities through regional transactions. Stablecoins, with over $300 billion market capitalization, now facilitate cross-border trade settlements. USDT dominates payments in emerging markets due to deep liquidity and widespread acceptance. Haycen issues trade-specific stablecoin USDhn.

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