New York-based Metropolitan Commercial Bank has requested that stablecoin issuer Tether close its accounts with the bank has shut down accounts associated with stablecoin issuer Tether, technology-focused news outlet Coindesk reported on July 10.
Tether and its affiliated companies reportedly had accounts with Metropolitan Commercial Bank for almost half a year, and now the financial institution has reportedly closed those accounts following a request earlier this year. A bank spokesperson told Coindesk that Tether has not shown much activity with the accounts since their establishment: