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, the firm behind the largest stablecoin by market capitalization, reportedly allowed its clients to send funds through Signature Bank’s payments platform — granting the firm access to United States banks.
According to an April 4 Bloomberg report, Tether had a pathway to the U.S. banking system by instructing its users to send dollars though Signature’s Signet to its Bahamian partner Capital Union Bank. The report cited “people with knowledge of the situation,” who added this system was in place at the time regulators took control of Signature in March.
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