What is the proposed pilot project between Trafigura and Tether, and where would it take place?

The proposed pilot project involves using Tether's stablecoin USDT for payments at fuel stations operated by Trafigura’s fuel distribution arm Puma Energy in El Salvador. According to people familiar with the matter, the discussions are at an early stage and subject to regulatory approvals, and the pilot would enable El Salvadorian consumers to pay for fuel or snacks with USDT, which would then be converted by an intermediary into dollars for Trafigura’s Puma Energy.

Why is this collaboration significant in the context of stablecoin adoption in commodities trading?

This pilot is the first known collaboration involving stablecoin usage between Tether — the issuer of USDT — and a major commodity trader, marking a notable step toward integrating stablecoins into physical commodity infrastructure. While Tether has previously financed a crude oil deal and expanded into lending, mining investments, and gold reserves, stablecoins themselves have seen only limited use in the commodities sector — making this exploratory initiative especially significant amid growing dollar shortages in poorer, fuel-import-dependent nations.

Trafigura and Tether Discuss USDT Usage at Fuel Stations

May 18, 2026

Commodity trader Trafigura is in talks with crypto firm Tether to pilot USDT payments at its Puma Energy fuel stations in El Salvador. This marks a significant step in stablecoin adoption within the natural resources and energy sectors.

bloomberg

2026-05-18

Trafigura and Tether Discuss USDT Usage at Fuel Stations

Trafigura and Tether Discuss USDT Usage at Fuel Stations

FAQ