Britannia buys operations of fellow Tether bank Deltec
Deltec Bank and Trust has reportedly sold its lines of business to Britannia Bank and Trust; both banks have served Tether and operate in the Bahamas. According to the Nassau Guardian’s interview with Britannia’s chairman Julian Francis, it is not acquiring Deltec, just Deltec Bank’s business lines. Deltec Bank CEO Odetta Morton repeatedly noted that she believes this “will result in an optimal path for continuing to deliver best-in-class service, technology, and access to global markets.” The curious case of FTX and Farmington State Bank, aka Moonstone Read more: Executive texts claim Deltec moved customer funds from FTX to Alameda At one point, Deltec Bank was one of the most important banks in the crypto ecosystem, providing Tether a link to the banking system after most banks refused to do business. It also provided a convenient service to many other cryptocurrency entities. Indeed, it was Deltec executives and leaders who collaborated with F...