One of the major trading platforms – Bitfinex – seems to get along with banking institutions in Puerto Rico.
With the last-year funds block by Wells Fargo, Bitfinex became a real murky secret in the market as no one can explain how the platform can make transfers actually without the bank.
“Noble Bank International, based in San Juan, Puerto Rico, took over banking duties for Bitfinex last year,” reported Bloomberg, citing sources familiar with the situation. At the same time, Noble Bank International is an agency bank of Bank of New York Mellon.
Notably, the possible connection of Bitfinex and Puerto Rico-based banking organization was brought up by BitMex back in March. That time, Noble Bank International was also considered as a banking partner of Tether, a supplier of USDT token.
Moreover, the available data showed that financial institutions in Puerto Rico saw skyrocketing amounts of deposits, which were explained by both increasing Tether issue and the crypto market upturn. As reported local financial regulator, Noble recorded a hike from $191 million to $3.3 billion over the year by December 2017.