Crypto exchange Bitfinex ropes in Hong Kong’s bank as new banking partner
Bitfinex appears to be banking with Hong Kong-based Bank of Communications through a personal account using Success Earnings Retailing Ltd, The Block reported. In the case of UNITED STATE buck wire transfers, Citibank has been the intermediary financial institution. The cryptocurrency exchange had briefly banked with HSBC via a personal account via Worldwide Trading Solutions. Wells Fargo was very closely working with Bitfinex in 2014 and also was the correspondent bank for the exchange's Taiwan-based financial institutions. Considering That Wells Fargo doesn't have any center to process cable transfers right into U.S. dollars, Bitfinex needed to check out other means for a dependable financial partnership. Some have actually speculated that HSBC was not conscious that it was supplying banking services to the exchange and therefore, needed to close the previous account all of a sudden. Questions have been installing as to whether Citibank was aware of the reality it has...