Wednesday, May 29, 2024

Capital Union, Tether’s reported bank partner, embraces Tether’s crypto agenda.

Tether has been in the news a lot recently due to the crash of the USDT, a stable coin. It was supposed to have a value of $1 but recently fell to as low as $0.07. Capital Union, the bank based out of Bahamas and Tether’s banking partner recently said that they are behind Tether and agree with their future goals.

They have rolled out new crypto trading services and now offer them at their trading desk too. You can now call the bank and talk to a spokesperson about the various crypto options that there are.

The firm’s representative said that as of now the services will be available to only a few select custodians and will make up for a very small proportion of their business. They have not yet clarified as to which cryptocurrencies they will be working with or when the services will be launched.

A transactional blockchain is also being developed to aid the bank and they say that this will be a disrupting interface for the whole world of finance. These claims after the USDT crashed and Capital Union disclosed that Tether held some of its reserves in their bank.

With major banks also now pushing crypt to their customers, it shows that the financial regulators are also now warming up to cryptocurrencies. This means that crypto is now being seen as a legitimate long-term investment and plan and you should add some to your portfolio too. With all major cryptocurrencies down you can make a crypto portfolio for cheap and reap the benefits later on.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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