Stablecoin Tether was audited and found a partner bank, Morgan Stanley, about institutional investors. For the first time, Berkshire Berkshire buys Fintech shares.
The most popular Stablecoin Tether has passed the entire audit cycle at Deltec Bank & Trust Limited. This procedure was necessary for the conclusion of a partnership agreement with a credit institution. Currently, Tether (USDT) is the most popular cryptocurrency with a stable exchange rate.
The capitalization of the coin is $ 1.8 billion. The security guarantee to investors is provided by the presence of Tether’s company accounts in the amount of $ 1,831,322,828. The US Federal Treasury has confirmed that these funds are actually stored on bank deposits.
Read more about what is Stablecoins
Analytical note “Bitcoin Decrypted” from experts of Morgan Stanley bank has been published. It said that institutional investors began to show interest in digital assets. This happens despite the decline in cryptocurrency rates. There was also an increased interest in stablecoins, coins with a fixed rate. It is caused by the need to support trading operations on more volatile cryptocurrencies.
Due to the high demand from customers, in early 2018, a credit institution began to provide clearing services for Bitcoin contracts CME Group and Cboe. Therefore, here they are closely watching the situation.
Warren Buffett is a clear opponent of the blockchain, but his Berkshire Hathaway foundation has invested $ 600 million in two financial technology companies - Indian Paytm and Brazilian StoneCo Ltd. Both of them are active in the field of payment transfers, and in total they already have more customers than PayPal.
Prior to this, Berkshire Hathaway abstained from buying shares of the technology sector. The deal says that the fund is changing its approach to such assets. However, it must be admitted that in this case Todd Combs, one of the leading leaders of Berkshire, was engaged in negotiations. The head of the fund Buffett himself has always stated that he is not competent in the field of technology.