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Tether Confirms Banking with Deltec; Latter Confirms $1.8 Billion in Account

Tether Limited, the company developing the USDT stablecoin, has announced a new banking partnership. In a statement published November 1, 2018, the company confirmed long-standing rumors that Deltec Bank & Trust Limited would be the next financial institution to hold its cash reserves.

Headquartered in the Commonwealth of The Bahamas, Deltec released a signed statement confirming the account’s “portfolio cash value with the bank” to be US$1,831,322,828, or $1.8 billion, as of October 31, 2018.

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