Large investor exchange Bitfinex Zhao Dong said that the division intends to release the Tether option stablon USDT secured by a basket of commodities, such as gold, oil and rubber.
In conversation with Cointelegraph Zhao Dong saidthat the idea of issuing such asset relates to the desire to escape from the risks associated with storing large amounts of Fiat funds in banks. Dong said:
“$4 billion of current supply USDT guaranteed reserves by 3.35 billion and 650 million provided by Bitfinex loan. Bitfinex has collected $ 1 billion with IEO token LEO and can easily and at any time to repay the debt to Tether. In fact, she has already paid $ 100 million last month. Even if not to take into account these 650 million in reserves, the total amount of collateral in USD is at 83.75% and not 72% as they say in fake news.”
According to Dong, the only reason Bitfinex is still not repaid his debt to the Tether such that the exchange must return to belong to her funds frozen in the accounts of payment by Crypto Capital. In addition, among the priorities of Bitfinex included the removal of restrictions on the disposal of assets that were imposed at the request of prosecutors in new York.
Zhao Dong also mentioned plans to release Tether stablon CNHT tied to the Renminbi:
“CNHT will not be a hindrance to control the movement of capital from the people’s Bank of China. CNH is different from CNY because it is an offshore product. On the contrary, CNHT will help China to expand the implementation of the CNH in international payments”.
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