Noble bank that Tether uses has financial problems

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2 months ago
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Puerto rican Noble Bank, which, presumably, serves the accounts of Tether, is allegedly experiencing financial problems due to the fall of the cryptocurrency market.

The Puerto rican Noble Bank is “frantically seeking funding,” writes Modern Consensus, citing two high profile sources. The situation is so difficult that the question is about the “survival” of the bank, according to the publication.

The bank itself did not comment on this information. According to the source, Noble Bank turned to one of the major coin holders Tether in the hope of receiving financial support, but was refused. The name of the addressee of the request is not specified.

Puerto Rico – based Tether 

It was BitMEX’s analyst team who reported on Tether’s accounts in Puerto-Rican Noble Bank. As a confirmation, they drew attention to a sharp increase in the monetary balance in the banking operations of the International Financial Organizations of Puerto Rico, and the most likely bank for reserves Tether was named Noble Bank.

In March, BitMEX found another confirmation that BitFinex’s crypto-exchange, linked to Tether, has accounts in the Puerto Rican Noble Bank.