Some commodity traders in Europe have turned to stablecoin settlements after losing banking services due to risks related to Iran.
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Haycen CEO Luke Sully stated that, due to concerns over transaction risks related to Iran, some European commodity traders are having their banking services terminated, and non-bank lenders and traders are turning to stablecoins (especially USDT) for cross-border payments. Haycen plans to become the liquidity and settlement layer for the 2 trillion USD non-bank trade finance market.
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