Tether, the company that produces the eponymous stabilini, yesterday confirmed the information about the conclusion of the agreement with a new banking partner Deltec Bank & Trust in the Bahamas.
Rumours about the partnership appeared in the middle of October. The news was reported by financial analyst Larry Cermak (Larry Cermak), but Tether information has not confirmed. Yesterday, 1 November, the company decided to release an official statement. In addition to the transaction, Tether once again stressed that all of their stabilini USDT provided the us dollar at a ratio of 1:1.
“All USDT market is fully provided American dollars, which is safely stored in our Bank accounts”, — the statement says.
Recall that the Tether cryptologist blames the disparity between these statements of fact, and considers that funds that would have provided stabilini, the company does. One of the circumstances, especially damaged confidence was the bankruptcy of the Bank Noble Bank of Puerto Rico, which previously collaborated Tether.
Though the deal with a new Bank in fact was made a few weeks ago, and the public knows about it exactly the same, the company has not officially announced it because Deltec carefully checked Tether, before starting to provide services.
“Testing included analysis of compliance with us regulatory requirements, a complete inspection of shareholders, consumers and company officials, as well as evaluating our ability to maintain dollar reserves, at any time and policy management of funds”, — said in a statement.
Stablein USDT almost recovered after a recent incident with a dramatic decrease in the cost. At the time of publication of news its rate is approximately $0,99. A week ago Tether destroyed 500 million tokens, and most of them came from cryptocurrency exchange Bitfinex. Media reports have suggested that the company did this to restore the parity of the dollar with stabilium. However, the Director of public relations Bitfinex called assumption is incorrect.