Tether Bank Partner Britannia Financial Sued Over $1B Deposit Asset Payment
• Tether's bank partner Britannia Financial sued over alleged failure to pay full price for revenue-generating assets related to $1B Tether deposit
• Lawsuit filed by Arbitral International, claims Britannia didn't pay agreed extra sum based on assets and clients from Arbitral Securities purchase
• Arbitral argues its executive helped facilitate Britannia's partnership with Tether, which opened account in 2021
• Tether has added multiple banking partners recently including Britannia, Deltec Bank, Capital Union Bank
• Tether's USDT stablecoin market cap hit new high of $88B in November 2023, up 33% this year