Stablecoin issuer is using privately-held Britannia Bank & Trust to process dollar transfers, Bloomberg News reported.
Bloomberg didn't say when the banking relationship began but, citing sources, said Tether has in recent months told clients to transfer money to Britannia’s bank account. Clients wishing to pay for Tether stablecoins have for quite some time faced dwindling options.
Crypto firms of any size have encountered mounting difficulty securing U.S. banking partners since a wave a scandal and bankruptcies spurred heightened regulatory scrutiny. Historically, Tether, which is also privately-held, has been secretive about its banking relationships, according to Bloomberg. With Circle's USDC stablecoin losing market share, Tether's USDT token has become the clear leader among digital currencies pegged to the dollar.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Pepecoin Team Puts Blame on 'Bad Actors'; PayPal's Stablecoin Adoption Outlook'The Hash' tackles today's biggest crypto news, including a closer look at how demand is shaping up for PayPal's new stablecoin, PYUSD. The CEO of Prime Trust says the crypto custodian has lost $8 million in a doomed Terra stablecoin investment. And, some rogue developers on the Pepecoin team were the ones who stole millions worth of pepe coin (PEPE) last week, a team member claimed on X (formerly Twitter).
Leer más »
Republican trio says Fed is undermining progress on stablecoin billRepublican lawmakers say the Fed's new oversight of bank crypto and stablecoin ties is undermining its advancement of a bill.
Leer más »
US House Financial Services members scold Fed’s Powell for stablecoin bill obstructionLeaders of the U.S. House of Representatives Financial Services Committee have sent a letter to Federal Reserve Chairman Jerome Powell to object to bank guidance on stablecoins.
Leer más »
Circle launches USDC stablecoin on Mercado Pago in ChileCircle and Mercado Libre have entered a partnership to bring USDC to Mercado Pago customers in Chile.
Leer más »
Goldman Sachs to sell wealth advisory unit to Creative Planning - Bloomberg News By ReutersGoldman Sachs to sell wealth advisory unit to Creative Planning - Bloomberg News
Leer más »