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.

AccessTimeIconJun 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.

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