ChainCatcher news, Deltec Bank and Trust has sold its business line to Britannia Bank and Trust, both of which have served Tether and operated in the Bahamas. Britannia's Chairman Julian Francis explained that what Britannia acquired is not Deltec, but the business line of Deltec Bank.Deltec Bank was once one of the most important banks in the crypto ecosystem, providing Tether with a connection to the banking system after most banks refused to do business, and also offering convenient services to many other cryptocurrency entities. (Protos)

ChainCatcher news, according to a report by the Financial Times citing documents from the High Court in London, Tether has deposited over $1 billion with the financial services group Britannia Financial Group's subsidiary.It is reported that this deposit involves a legal dispute between Britannia Financial and a company registered in the British Virgin Islands, Arbitral International. According to court documents, Tether opened an account with Britannia Financial's subsidiary in November 2021.