USDT Opens $1.8 Billion Bank Account in the Bahamas

[davinmark]

Helloooow Players!  

So there is a news from Tether (USDT. Tether Limited, the issuer of controversial USDT has confirmed that it has established a banking relationship with a small financial institution based out of the Bahamas.announcing publicly that it has formed a banking partnership with Deltec Bank, a 72-year-old financial institution located in Nassau.

And prior to this public confirmation, Tether’s relationship with Deltec had first been reported by The Block. Previously, the firm was said to be banking at Puerto Rico-based Noble Bank, which is now reportedly up for sale following the departure of Tether and other large crypto industry clients.

i think its a good news maybe for USDT price in the future.

 

Whats your thought about that?

Source : https://www.ccn.com/breaking-tether-confirms-its-banking-at-nassau-based-deltec-bank/

[Pandarian]

Why Crypro Currencies deposit money in Banks? Ultimatly making them Fiat deoendant?

[wry]

They should have done this years ago.  They have totally squandered their early mover advantage in stablecoins and now are in for a real fight with others who have more institutional backing and widespread credibility.  They may still do well and sort this out, but this move is over due.