According to the report and analysis of The Block, one of the biggest cryptocurrency exchanges Bitfinex moved at least a portion of its banking business to HSBC. The reason for such changes is that it had separated from its previous banking partner Noble bank that was reported insolvent.
The analysts from The Block, Larry Cermak, tweeted that Bitfinex is banking with HSBC through a private account of Global Trading Solutions. He also noted that because of the structure of such private accounts, HSBC might even be not aware that cryptocurrency exchange is banking with them.
Bitfinex is now banking with HSBC through a private account of Global Trading Solutions. Very good fit if you ask me. It's also worth mentioning that all EUR, JPY and GBP deposits are paused but Bitfinex "expects the situation to normalize within a week". Banking issues? pic.twitter.com/1pxQ13NO0m
— Larry Cermak (@lawmaster) October 6, 2018
One of the Bitfinex representatives wrote to the media that Bitfinex does not comment on actual or potential business relationships, leaving this question of a new banking partner unanswered.
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