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Btw - I never found a good explanation why all USD transfers need to be routed trough usd banks. Google is quite silent on the subject - is it common knowledge or too obvious?


They don't.

However when you're talking about billions, it's difficult to keep them in anything but US treasuries.


not common knowledge I think.

all usd swift wires get routed through 2 of the major banks - think it was JP Morgan Chase & Wells Fargo. this allows them to check all of these transfers for aml/cft and other sanctions blacklists.

heard this from a guy who works closely with Tether so i'm sure he'd know well


How would you envision it work otherwise?




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