Key Highlights
- Trafigura and Tether are exploring a pilot that would let people in El Salvador pay for fuel using USDT at Puma Energy stations.
- Customers could pay in USDT for fuel and snacks, and the payment would be converted into US dollars before reaching the company.
- If successful, the project could make fuel payments faster and reduce banking delays.
Commodity trading giant Trafigura is reportedly working with Tether, the issuer of USDT, on a pilot project that could allow customers in El Salvador to pay for fuel using the stablecoin USDT.
According to a Bloomberg report, these talks are focused on fuel stations operated by Puma Energy, Trafigura’s fuel retail business. The project is still in its early stages and would need approval from regulators before it can move forward.
Early-stage talks between both firms
If implemented, customers would be able to use USDT to pay for petrol and even snacks at Puma Energy stations. The stablecoin payments would then be converted into US dollars by a third-party intermediary before reaching Puma Energy.
Tether has not reportedly made a comment on the discussions. However, a spokesperson for Puma Energy confirmed that the company is looking into different payment methods as customer habits continue to change.
The spokesperson also added that the discussions are still “at an exploratory technical stage,” meaning that the companies are still testing the idea and have not launched anything yet.
If the pilot moves ahead, it would become the first publicly known partnership between Tether and a major commodity trading company involving stablecoin payments.
El Salvador as a crypto testing ground
El Salvador has positioned itself as a key testing ground for crypto-based payment systems after adopting Bitcoin as legal tender in 2021.
As of Jan 2026, the country alone recorded about 7,525 BTC, worth roughly $684.5 million. Now, the holding has increased to 7,655 BTC, according to Bitcoin Treasuries.
Tether’s push into commodities and finance
The talks come at a time when Tether is expanding deeper into the commodities and natural resources sector. The company previously revealed that it helped finance a crude oil transaction between an oil company and a commodity trader, although it did not name the firms involved or explain whether the payment used USDT directly.
Over the past few years, Tether has expanded its investments beyond crypto. The company has built gold reserves reportedly worth around $20 billion, invested in mining businesses, and explored lending money to commodity traders.
Moreover, stablecoins have grown quickly over the past year. According to Artemis Analytics, stablecoin transaction volume jumped 72% to $33 trillion in 2025. During the same period, USDT’s market value rose 38% to roughly $190 billion, according to CoinMarketCap, helping Tether generate about $10 billion in profits.
If this partnership moves forward, it could make fuel payments in El Salvador faster and easier, reduce reliance on slow banking systems, and give customers more payment choices at the pump.
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