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...
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