Tether Announces New Banking Partnership with Deltec

Tether Limited, the company behind the popular US dollar-pegged stablecoin Tether (USDT), has established a new banking relationship with Bahama-based Deltec Bank & Trust.

According to an official statement released on Thursday, Deltec accepted Tether as a client after a detailed review of the company, including compliance processes, policies and procedures, a full background check of the shareholders, ultimate beneficiaries and officers, as well as assessments of the project’s ability to maintain the “USD-peg at any moment”.

“This process of due diligence, was conducted over a period of several months and garnered positive results, which led to the opening of our bank account with this institution. Deltec reviews our company on an ongoing basis,” Te…

This article appeared first on Cryptovest

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