Cryptocurrency exchange Bitfinex has partnered with HSBC, one of the largest banks in the world with $133 billion of capital. About this media said the financial analyst Diar Larry Cermak (Larry Cermak).

HSBC, based in London, essentially became the first Bank partner Bitfinex after a series of failed agreements in the past. It all started with the conflict of the Hong Kong stock exchange with Taiwanese banks and reached a peak in April 2017, when the company filed a lawsuit against U.S. Bank Wells Fargo for the fact that he blocked her Bank deposits. As I commented then on Bitfinex, the decision to take legal actions in this respect came because the exchange could not allow big business to further undermine the activities comply with all regulatory requirements of companies in the cryptocurrency market.

“If we let them just push a button and destroy the business, then it will be a serious precedent for the entire bitcoin industry, not only for Bitfinex. Therefore, we believe that this is the right time for action,” wrote then exchange.

After trials with Wells Fargo Bitfinex shifted to the Caribbean by signing a contract with a local Bank Noble Bank International. Since may of last year he began to handle transactions of clients, however, later Noble Bank declared bankruptcy, and Bitfinex lost its only banking partner.

If the recent transaction between the crypto currency exchange and HSBC will be long-term, it will return Bitfinex previous level of stability and security operations lost over the past few difficult years. To disclose details of a partnership agreement with HSBC, head of communications at Bitfinex Casper Rasmussen (Rasmussen Kasper) refused.

“Bitfinex has never commented and will not comment on actual or potential business relationship,” said Rasmussen.

However, it is not only in the policies of the exchange: to say that HSBC Bank is now fulfilling service obligations Bitfinex, the company unilaterally can not. That is why the media learned about the deal from a third party.

Although details from officials is unknown, journalists suggest that Bitfinex as the exchange in strict compliance with the principles of “know your customer” (KYC) and anti money laundering, cooperates with the Bank in the regulated direction. Also according to Cermak, working between Bitfinex and HSBC is using a private account of the consulting company Global Trading Solutions. While all deposits in Euro, Japanese yen and pounds sterling are blocked, but Bitfinex hopes that the situation will be corrected in the next week.

Recall that last month Bitfinex has launched a decentralized Trustless platform Ethfinex. It supports trading in five currency pairs, the exchange plans to add another 40 manufacturing tokens.