EQIBank fights to recover $90M seized from US payment provider

Tether: Tether is the issuer of the USDT stablecoin and focuses on maintaining compliance and transparency in the digital asset ecosystem. The company routinely collaborates with regulators and law enforcement to address illicit activity on its platform while expanding partnerships in traditional finance. It relies on banking partners such as EQIBank to facilitate access to fiat banking channels for its global operations. EQIBank: EQIBank provides banking-as-a-service solutions tailored for international clients and digital asset businesses, offering multi-currency accounts, payments, cards, lending, custody, and escrow services. It enables entities like Tether to access traditional banking infrastructure, including U.S. systems, through intermediary providers. In the reported development, EQIBank is actively pursuing recovery of funds seized from one such U.S. payment provider used for its operations. Banking Integration: Crypto firms increasingly depend on specialized international banks to bridge digital assets with conventional payment rails and correspondent banking. Compliance Collaboration: Tether continues to assist authorities in enforcement actions targeting fraudulent or sanctioned cryptocurrency flows.