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.

ING Confirms Relationship 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

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.

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The post Spokesperson Confirms Bitfinex Is Client of ING appeared first on Bitcoin News.


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