As our customers and others in the blockchain space may have recently experienced, Tether is currently expecting continued delays in processing international wires to and from tether.to users. Blockchain-based withdrawals and deposits are in no way affected. The Tether Reserve remains in surplus of the 1:1 backing of USDT and has more than the necessary currency on deposit to redeem all existing tethers.
Since April 18, 2017, all incoming international wires to Tether have been blocked and refused by our Taiwanese banks. As such, we do not expect the supply of tethers to increase substantially until these constraints have been lifted.
For customers with bank accounts in Taiwan, we are currently experiencing no difficulties or delays in funds transfers in USD, with deposits and withdrawals functioning as expected.
For customers with bank accounts outside of Taiwan, we are diligently pursuing alternate funding channels. New banking corridors are in the process of being established, and we are speaking with integrators of USDT about the possibility of intermediate customer redemption processes.
Until then, we are asking our customers not to send any additional incoming wires until we can provide a reliable method of receiving funds. Any incoming wires will be returned to their original sending account, which may result in fees levied by your bank.
As additional progress is made, we will keep our customers and the community up to date with developments.
We are immensely grateful to the community for standing with us against unreasonable attempts to disrupt and discredit the legal and responsible business of reputable, innovative companies like us and other exchanges in the blockchain space.
First they ignore you, then they laugh at you, then they fight you.
In this together,
The Tether Team