Ok thx. That makes sense. But if you are 1 of bigger players, & need to wire funds in for bigger creations, then how do large creations on weekends happen?
And why not just wire directly to Tether acct at Bitfinex? Why wire it to your account & then internally transfer it?
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Replying to
1) I think very few creations happen on weekends. Sometimes USDT is *minted* on weekends and put into, effectively, Tether's hot wallet in anticipation of creations on Monday, thought.
2) Yeah we could do that too, but same entity wires are generally cleaner for banks.
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Ok thanks...this is very helpful and very much appreciated.
Last question if you don't mind answering.
When you do wire funds to Deltec, are you wiring to their branch in the Bahamas or to one of their correspondent banks in another jurisdiction?
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Replying to
ooooooooooohhh good question
it is, often, a correspondent bank, with jurisdiction depending on the currency
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TBH this is probably why there's the discrepancy with the Bahamian bank inflow/outflow numbers now that I think about it
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Thank you for this info! Highly appreciate your time today Sam! This could explain the discrepancy by looking at currency inflows in the Bahamas.
But may I ask one further question to understand it better: Are you wiring to foreign Deltec branches or to other institutes?
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very insightful! very last question: which institutes do you use beside of Deltec to wire funds to bitfinex/tether?
some names could be really interesting to know & would help to understand the Deltec / Bahamas money inflow controversy
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Was this not obvious?
Of course deltec use correspondent banks
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This is the question we have been trying to get answered definitively. Where are they wiring the money...to Deltec directly or to a correspondent bank.
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