According to Foresight News, Tether is said to be using the Bahamas-based Britannia Bank & Trust to handle US dollar transfers. Sources claim that while it is unclear when the banking relationship began, Tether has instructed customers to send funds to Britannia's bank accounts in recent months. Before the closure of Signature Bank in March this year, Tether customers could send US dollars to Tether's banking partner, Capital Union Bank, through Signature Bank to pay for stablecoin fees. Additionally, Tether CTO Paolo Ardoino told Bloomberg in March that its banking partners include Bahamas-based Deltec Bank & Trust Ltd. and Capital Union Bank, with Cantor Fitzgerald acting as the custodian for Tether's treasury bonds.