According to reports, Bitfinex moves on from Noble Bank to HSBC as its new banking partner
Larry Cermak, head analyst at The Block, tells that Bitfinex banking with HSBC is a very good fit. He also says that deposits of Euro, Japanese Yen, and British Pounds are temporarily halted and Bitfinex is expecting the situation to normalize in a week.
Kasper Rasmussen, Bitfinex communications director, has declined to comment on the kind of partnership it has with HSBC.
Bitfinex and Other Banking Institutions
Bitfinex has filed a lawsuit against banking giant Wells Fargo in April 2017 due to wire transfer freeze to Bitfinex’s account and disrupting its business operation. It had clashes with other Taiwanese banks as well.
The exchange has, since then, moved from Taiwan to the Caribbean and partnered with Noble Bank.
Bitfinex and Noble Bank
Ex-banking partner Noble Bank’s bankruptcy and debt-restructuring have been the reason for Bitfinex’s interim pause of EUR, JPY, and GBP deposits.