According to ChainCatcher, Deltec Bank and Trust has sold its business line to Britannia Bank and Trust. Both banks have served Tether and operate in the Bahamas.

Britannia chairman Julian Francis explained that Britannia was not acquiring Deltec but rather the business lines of Deltec Bank.

Deltec Bank was once one of the important banks in the crypto ecosystem, providing banking system connections and convenient services for Tether and other cryptocurrency entities.