Tether Leaning on Bahamas-Based Britannia as US Banks Cut Crypto Ties
• Britannia Bank & Trust processes dollar transfers for Tether
• Stablecoin issuer faces long-standing questions on reserves
Stablecoin issuer Tether has added Britannia Bank & Trust, a privately-held bank operating in the Bahamas, to process dollar transfers, according to people familiar with the matter.
While it’s unclear when the banking relationship started, Tether has instructed clients to send money to Britannia’s bank account in recent months, the people said, asking not to be identified discussing private information.
Tether Leaning on Bahamas-Based Britannia as US Banks Cut Crypto Ties
• Britannia Bank & Trust processes dollar transfers for Tether
• Stablecoin issuer faces long-standing questions on reserves
