Tether Confirms That It Is Banking With Bahamas-Based Deltec24.68

Tether Limited is back in the news; this time, it has confirmed a banking relationship with a financial institution based out of the Bahamas. The issuer of the controversial USD-pegged stablecoin tether (USDT) announced its partnership with Bahamas-based Deltec Bank & Trust Limited. Tether went a step further by publishing an attestation letter from the bank, showing evidence of its reserves.

In a blog post on its website, Tether stated that Deltec accepted it as a client after a “due diligence review” was carried out, which included an assessment of the company’s ability to maintain its $1 peg, which slipped last month.

Original source
https://bitcoinmagazine.com/articles/tether-confirms-it-banking-bahamas-based-deltec/

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