Bitfinex, a large crypto-currency exchange that was in the spotlight of US regulators late last year, opened an account with ING after Wells Fargo refused to service it last year. This is reported by Bloomberg News.
ING spokesman Harold Reusken confirmed that Bitfinex is a client of the bank. He refused to go into details of their relationship, referring to the confidentiality of information, while specifying that the bank adheres to special practices regarding transactions related to crypto-currencies. Reusken did not say anything about Tether, which is connected with the Bitfinex issuer of USDT tokens, which causes a lot of questions in the crypto-currency community. Earlier, BitMEX researchers concluded that Tether money can be kept in Puerto Rico.
With companies that are active in the crypto market we are very reserved. Not with companies that are in traditional markets and receive or do payments with cryptocurrencies, but with parties that are in the chain of cryptocurrencies.
Bitfinex did not divulge with which banks it operates, after the closure of the account in Wells Fargo. The ING statement is the first confirmation of the relationship between Bitfinex and a large financial company capable of providing storage services.
It is also unclear where Bitfinex was served after the breakdown of relations with Wells Fargo and when this account was opened.
The connection between Bitfinex and ING is interested by Dutch lawmakers. A member of the opposition workers' party, Nank Neybour, asked Finance Minister Vopka Hextra to look into this issue, including explaining why other banks broke off relations with Bitfinex and what measures the exchange and the bank take to prevent the use of their sites by intruders.