Tether funds have been deposited in multiple banks, asset management companies and Bitfinex, and have held a large number of commercial papers from Chinese financial institutions

Tether deposited its funds in four banks, two investment managers, two gold vaults and a gold broker, as well as Bitfinex in March 2021, CoinDesk reported. It also holds commercial paper and other bonds issued by various entities including Qatar National Bank (QPSC), Barclays Bank (PLC), Deutsche Bank (AG), Emirates NBD Bank PJSC and Natwest Group PLC, whose issuers Most of them are major Chinese banks and financial institutions, including Agricultural Bank of China, Bank of China (Hong Kong), China Bank of Communications, Industrial and Commercial Bank of China, China Merchants Bank, China Construction Bank, and China Everbright Bank.