Tether Crypto Platform Begins Verifying New Customers
The temporary suspension of the direct exchange of USDT to the US dollar was caused by a significant increase in the volume of financial transactions throughout 2017. The partnership with Deltec Bank & Trust from the Bahamas allowed Tether to return to its original idea, which is direct transactions, without intermediaries.
The platform users will get the opportunity to exchange USDT to fiat money once a week. Also, it will be possible to buy the stablecoin in the near future.
The company presented a tariff scheme with a progressive scale of commission payments for deposits and withdrawals, depending on the amount of funds. It is worth stressing that all operations with USDT will be carried out for free.
Tether reminds that the launch of the stablecoin in October 2014 was a reaction to the market demand and the need for the rapid movement of funds between crypto exchanges. USDT in this case benefited from the steady US dollar exchange rate.
In the light of these events, the Bitfinex crypto exchange, which has the same managers as Tether, added the new trading pairs of USDT/USD and EURT/EUR to the listing.
As previously reported, the US Department of Justice started an investigation against Tether.