Spokesperson Confirms Bitfinex Is Client of ING


Major Dutch financial services company, ING, has confirmed that Bitfinex holds an account with the company in the Netherlands. The bank issued a statement regarding its relationship with Bitfinex after Dutch-language website Follow the Money published a report revealing that ING is providing financial services to Bitfinex last week.

Also Read: Independent Ratings Agency Alerts Investors About Dangers of Tether 

ING Confirms Relationship With Bitfinex

Harold Reusken, an ING spokesperson, has confirmed via email that Bitfinex holds an account with the bank in the Netherlands. Mr. Reusken did not comment when asked if ING also provides services to other companies associated with Bitfinex.

Mr. Reusken indicated that ING is typically willing to work with “companies that are in the value chain of cryptocurrencies,” rather than “companies that are in traditional markets and receive or do payments with cryptocurrencies.” The spokeperson said “With regards to companies that are active in the crypto market, we are very conservative”. Mr. Reusken also stated that ING is currently experimenting with distributed ledger technology.

Two members of the Dutch parliament have submitted questions for the nation’s finance minister following the discovery of the relationship between ING and Bitfinex.

ING Comprises Bitfinex’s First Major Banking Partner Since Wells Fargo

Spokesperson Confirms Bitfinex is Customer of INGThe news is significant, as it comprises the first evidence that Bitfinex has successfully secured banking with a major international institution since Wells Fargo terminated its services to the exchange during early 2017.

Since the termination of Bitfinex’s accounts held with Taiwanese banks associated with Wells Fargo, posts on forums and Reddit have suggested that the exchange has been directing customers to deposit fiat with the exchange via third-party companies such as Crypto Zoo, an obscure bank hailing from Poland, and recently Portugal.

Local media reports have also indicated that Bitfinex/Tether have been seeking to purchase a bank in Puerto Rico, describing the move as a means to bypass the challenges encountered in the companies’ efforts to establish stable banking arrangements elsewhere.

What are your thoughts on the relationship between ING and Bitfinex? Share your opinion in the comments section below!

Images courtesy of Shutterstock

At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.  

The post Spokesperson Confirms Bitfinex Is Client of ING appeared first on Crypto Currency Online.

from Crypto Currency Online https://cryptocurrencyonline.co/spokesperson-confirms-bitfinex-is-client-of-ing/

Author: Crypto Currency Online

Crypto currency online is your best source for up to date crypto currency news and technical information. We have brought this website you informed and up-to-date with all the current changes and trends happening in one of the newest industries available and will continue to you our best to date and informed. Crypto currency mining is becoming more and more popular every day. What we've done combined news, information, my crypto currency charts and the best mining products that you can purchase.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: