Bit-Z, eighth by trading volume crypto-exchange in the world, has announced its plans to stop trading Tether pairs. The decision comes a few days after the record issue of 300 million USDT coins.

The Hong Kong-based cryptocurrency exchange Bit-Z will delist Tether tokens on 30 April. Tether holders should withdraw their assets prior to this date or exchange them into other cryptocurrencies.

“Dear traders,

Bit-Z will delist the USDT Market on March 30, 15:00 and stop USDT services on April 30, 2018, PM 15:00.

During the period, you can still transfer USDT out.

Thanks for your support!”

Bit-Z did not elaborate on what reasons pushed the company to the decision to delist one of the most popular USD-pegged tokens.

According to CoinMarketCap, Bit-Z occupies the eighth line in the rating of cryptocurrency exchanges by the daily trading volume with $192 million within the last 24 hours. The exchange was launched in 2016. At the end of January 2018, Bit-Z reported that they were attracting $10 million of investment from three funds Hwazing Capital Limited, Wa Sung Investment and Plum Angel Investment. The exchange does not support trading of any fiat currency.

Earlier, Tether, which issues "digital analog" of the US dollar, printed $300 million in USDT tokens. It was the largest single issue of this altcoin. The community for several years is dominated by rumors that the issued USDT tokens are not backed with real bank deposits. Last spring Tether and affiliated with it Bitfinex had problems with banking services due to the refusal of the American correspondent bank Wells Fargo to conduct operations of these companies.

Since then, there has been scattered information about where Tether can hold deposits, citing various banking organizations from the Dutch ING bank to the Puerto Rican Noble. In the autumn of 2017, Tether entered into an agreement with the American auditor Friedman LLP to verify the company's bank accounts, but a few months later it broke off the partnership. Tether and Bitfinex also received subpoenas from the US Commodity Futures Trading Commission (CFTC).