Sensational design of the Tether, which released the eponymous stablein, found a new banking partner in the Bahamas.
According to financial analyst Larry Cermak (Larry Cermak), Tether is going to keep money in Deltec Bank, which is located in the capital of the Bahamas Nassau. Most likely, this refers to the dollar reserve, which provides USDT tokens in a ratio of 1:1. Today in circulation are about 2.25 billion USDT, and thus dollar reserve should be no less.
As suggested by the media, Tether and cryptocurrency exchange Bitfinex have a common management team, and therefore a recent report on Bitfinex new, improved and sustainable storage system Fiat deposits using banking solution, allowed the journalists to assume that Deltec Bank provides services to both companies.
Informed and Bitfinex, and Tether worked with Noble Bank of Puerto Rico, but in October the financial institution went bankrupt, and the media reported that a new partner Bitfinex was the British Bank HSBC. However, official confirmation from the exchange and not received.
Regarding details about Deltec Bank, nor Bitfinex or Tether is also not yet confirmed this information.
Over the last few days the price of stabilin USDT fell below $1. On Monday it was $0,92, at the time of publication of news ranges from $0,98. Experts believe that this occurred due to the delisting on the stock exchange USDT KuCoin. The decline in the price stabilin caused a jump in the cost of bitcoin on Bitfinex — $6300 to $7500.