Tether, the issuer of popular stablecoin USDT, has established banking relations with Britannia Bank & Trust. This connection could streamline dollar transfers, improving Tether’s functioning within the traditional financial network. Britannia’s recent acquisitions and positive stance on crypto suggest this relationship is strategic for both entities, impacting the future of the crypto industry.
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Tether’s Banking Partnerships: An Advance Toward Global Inclusivity or a Regulatory Nightmare?
Tether, the issuer of popular stablecoin USDT, has partnered with Britannia Bank & Trust, a private bank based in The Bahamas, for processing dollar transfers. Notwithstanding critics’ doubts over the assets backing the $86 billion held by Tether, it accounts for around 66.5% of the total stablecoin market.
Tether’s Ascent: Top Holder of US Treasury Bills and What That Means for Crypto
“Tether, one of the world’s leading buyers of US Treasury bills, has increased its holdings to $72.5 billion. Despite the complexities expansion brings, this represents the growing mainstream acceptance of digital currencies and their incorporation into the traditional financial world.”