Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ETHEREUM NEWS»Tether utilizes Britannia Bank in the Bahamas to process USD transfers.
ETHEREUM NEWS

Tether utilizes Britannia Bank in the Bahamas to process USD transfers.

By Crypto FlexsNovember 29, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Tether utilizes Britannia Bank in the Bahamas to process USD transfers.
Share
Facebook Twitter LinkedIn Pinterest Email
  • Tether has added Britannia Bank & Trust as a banking partner to process US dollar transfers.
  • The Bahamas-based private bank will help USDT issuers with their banking needs after US banks cut ties with the cryptocurrency.
  • The stablecoin company has reportedly instructed customers to send funds to Britannia’s accounts in recent months.

Cryptocurrency giant Tether, which owns the world’s largest stablecoin, has reportedly found a new banking partner in Britannia Financial Group. USDT issuers have been relying on Bahamas-based Britannia Bank & Trust to process US dollar transfers amid the exodus of traditional financial institutions from the cryptocurrency industry.

Britannia Bank received funds from Tether customers.

Tether recently added Britannia Bank & Trust to process dollar transfers, Bloomberg reported, citing people familiar with the matter. The stablecoin giant has reportedly been asking customers in recent months to send funds to privately operated bank accounts.

It is unclear when Tether’s financial relationship with Bahamas-based Tether began. The USDT issuer did not respond to Bloomberg’s request for comment, and Britannia Financial Group declined to comment on its relationship with the stablecoin company.

Bankruptcies and scandals in the cryptocurrency industry over the past year have led several banks to cut ties with companies operating in the sector. Several prominent cryptocurrency companies, including cryptocurrency exchange Binance, have lost banking partners due to industry turmoil.

Bloomberg’s latest report provides much-needed insight into Tether’s banking relationships, which have historically been shrouded in secrecy. In 2018, the stablecoin company confirmed a partnership with Bahamas-based Deltec Bank & Trust, just weeks after parting ways with Noble Bank. Capital Union, another bank operating in the Bahamas, is another disclosed banking partner of the USDT issuer.

The lack of transparency surrounding Tether’s banking relationships, balance sheet, and corporate structure has led to significant FUD and regulatory scrutiny in the past. Nonetheless, USDT remains the top stablecoin in the cryptocurrency market, boasting a 66.5% market share with a market capitalization of over $82 billion.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Next chapter of ecosystem support program

August 31, 2025

Kindly, MD’s $ 5B Bitcoin Play comes as DATS raises fear of wider Altcoin fluidity.

August 27, 2025
Add A Comment

Comments are closed.

Recent Posts

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025
Most Popular

Top 5 Altcoins to Watch in November

November 27, 2023

Deceptive AI: The Hidden Dangers of the LLM Backdoor

January 17, 2024

Rise of Polymarkets: Cryptocurrencies are pushing prediction markets mainstream.

October 30, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.