Tether today announced the launch of the updated platform, involving the verification of new users, as well as direct USDT exchange for US dollars without the participation of the exchange.
In a press release published on the website of the Tether, the company explained that, due to the high demand for USDT, the initial plan for the implementation of an internal system conversion had to be abandoned. Instead, the Tether had to conclude an agreement on services exchange Bitfinex. This system has repeatedly been criticised by the owners USDT Twitter and Reddit.
Return the wallet with direct conversion has become possible through partnerships with Bank of Deltec Bank & Trust Limited, which Tether announced on 1 November. Thus, today in the app Tether available “immediate withdrawal Tether to Fiat in 1:1 ratio”. Later in the wallet should also be a function of the purchase USDT.
Tether has introduced a mandatory condition of using a new option: direct conversion is available only for accounts with a minimum balance of 100 000 USDT. The threshold amount is $100,000. The company explained that with the installation of these restrictions focused on the audience to “professional investors”.
An hour after the publication of the announcement of the updated platform in Twitter account Bitfinex, the partnership exchange Tether, there was this tweet:
“From today, customers Bitfinex will be able to buy and sell Tether and Fiat on our platform thanks to steam support USDT/USD and EURT/EUR”.
We will remind that earlier the Bank-partner of the Tether, the dollar is responsible for ensuring stabilio was Puerto Rican Noble Bank, however, he went bankrupt.
