Crypto.com Joins With Circle to Enable USD Deposits for USDC

Users will be able to wire transfer their funds to Circle and receive USDC at a 1:1 conversion rate.

Jun 28, 2021 at 11:43 a.m. UTC
Updated Sep 14, 2021 at 1:17 p.m. UTC

Crypto.com is introducing a way for clients to use fiat currency to buy crypto on its platform in partnership with Circle, the developer of the USDC stablecoin.

  • Users will be able to wire transfer their funds to Circle and receive USDC at a 1:1 conversion rate in their Crypto.com app.
  • The function, which will be available in 30 countries, is the only way for clients to use fiat to buy crypto on the exchange.
  • The process will take around three business days to complete, an announcement Monday said.
  • The partnership is designed to address some of the barriers to transferring fiat into and out of crypto platforms.
  • The ability to withdraw USDC and receive cash back in bank accounts will be available in the future.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
A16z Doubles Down on Crypto Investments Despite Market Downturn, and NFL Launches Play-to-Earn NFT Game

The most valuable crypto stories for Wednesday, May 25, 2022.

The most valuable crypto stories for Wednesday, May 25, 2022.

CoinDesk - Unknown
2
CoinDesk - Unknown
OCC: ‘No Contagion’ Post-Terra Collapse

A surprisingly measured set of comments from Acting Comptroller Michael Hsu.

A surprisingly measured set of comments from Acting Comptroller Michael Hsu.

CoinDesk - Unknown
3
CoinDesk - Unknown
Nvidia’s Crypto Mining Chip Revenue Now 'Nominal' Following Months of Decline

A drop in crypto mining chip sales dragged down the chipmaker’s OEM business unit year-over-year.

A drop in crypto mining chip sales dragged down the chipmaker’s OEM business unit year-over-year.

CoinDesk - Unknown
4
CoinDesk - Unknown
How to Make It in the Metaverse

In this work of fiction, a woman buys a home in the metaverse because New York City rent is just too high. But virtual worlds exact their own cost of living. This piece is part of CoinDesk's Metaverse Week.

In this work of fiction, a woman buys a home in the metaverse because New York City rent is just too high. But virtual worlds exact their own cost of living. This piece is part of CoinDesk's Metaverse Week.

CoinDesk - Unknown