Patrick

Bank AI

Coin

<ul class="news-points"> 
 <li>Britannia Bank &amp; Trust has been added by stablecoin issuer Tether to handle dollar transfers.</li> 
 <li>Tether has not publicly disclosed the extent of its relationship with the banking firm.</li> 
 <li>Crypto establishments have always found it difficult to build and maintain stable relationships with traditional banks.</li> 
</ul> 
According to <a href="https://www.bloomberg.com/news/articles/2023-08-29/tether-usdt-adds-bahamas-based-britannia-bank-trust-as-banking-partner?sref=QkiN9npb#xj4y7vzkg" target="_blank" rel="nofollow">recent reports</a>, the Bahamas-based&nbsp; Britannia Bank &amp; Trust has been added by stablecoin issuer Tether to handle dollar transfers. Britannia Financial Group is an up-and-coming financial services company headquartered in London. 
Tether has not publicly disclosed the extent of its relationship with the banking firm nor has it responded when asked about the new development. This has led to widespread rumors about the banking process and the assets stored for the backing of the <a href="https://coinedition.com/what-is-a-stablecoin/">stablecoin</a>. These speculations are also fueled by the fact that Tether asked clients to send money to the&nbsp; Britannia Bank’s account in the past few months. 
Earlier this week, Patrick Tan, general counsel for ChainArgos, a blockchain data analytics firm, stated that the secrecy surrounding Tether’s banking relationships continues to be a major impediment to developing the cr…
The post <a rel="nofollow" href="https://coinedition.com/tether-relies-on-britannia-bank-while-other-us-banks-part-ways/">Tether Relies on Britannia Bank While Other US Banks Part Ways</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Tether Relies on Britannia Bank While Other US Banks Part Ways

Coin Edition

Other articles published on Aug 30, 2023

HashKey Exchange partnered imToken to Offer non-Custodial Solution

Has Bitcoin (BTC) Paved the Way for an Altcoin Season?

Bankrupt lender, BlockFi, files to convert ‘trade-only’ tokens into stablecoins

US Congressman Calls to Dismiss Gensler as SEC Chair Following Grayscale Ruling

US SEC's Gary Gensler To Face Huge "Crypto" Hearings

Tether CTO evasive as usual in odd Camila Russo interview

Join our free newsletter for daily crypto updates!