Tether Limited is back in the news; this time, it has confirmed a banking relationship with a financial institution based out of the Bahamas. The issuer of the controversial USD-pegged stablecoin tether (USDT) announced its partnership with Bahamas-based Deltec Bank & Trust Limited. Tether went a step further by publishing an attestation letter from the bank, showing evidence of its reserves.In a blog post on its website, Tether stated that Deltec accepted it as a client after a “due diligence review” was carried out, which included an assessment of the company’s ability to maintain its $1 peg, which slipped last month. The post went on to add:“This included, notably, an analysis of our compliance processes, policies and procedures; a full background check of the shareholders, ultimate beneficiaries and officers of our company; and assessments of our ability to maintain the USD-peg at any moment and our treasury management policies.”In an attempt to assure the market of its reserves, Tether also published a letter, purportedly from Deltec, confirming Tether’s reserves with the bank to be $1,831,322,828 as of October 31, 2018 — which is enough to back the remaining 1.78 billion USDT in circulation, as Tether had withdrawn over $1 billion worth of tokens since the beginning of October. The letter also stated that the confirmation was made “without any liability, however arising, on the part of Deltec ... For Further Information Click on Below Button