We are excited to announce the launch of our latest groundbreaking innovation at Xapo Bank – instant USDT:USD withdrawals and deposits.
With this service, our members can send USDT on the Ethereum blockchain directly to their USD accounts, with no waiting times or fees involved, beyond what is charged directly by the blockchain network. This is unlike regular exchanges, which often involve lengthy waiting periods and high fees, and traditional banks which tend to offer limited support for stablecoins. Received USDT are instantly converted to USD at the going market exchange rate.
This completes the loop in helping our members take full advantage of the stability and security offered by USDT, the world’s foremost stablecoin by market share, as we previously enabled our members to send USDT using the funds in their Xapo Bank US dollar accounts.
How does our USDT:USD conversion service benefit Xapo Bank members?
There's no waiting period involved when sending or receiving USDT from or to Xapo Bank. USDT are sent using the funds in your Xapo Bank USD account, while received USDT are instantly converted to USD and deposited into your USD account, where they earn you our high interest* rate of 4.1% on USD.
Xapo Bank does not charge any fees for our USDT service, making it a cost-effective solution for seamless international transactions, as our members don’t incur any additional charges beyond what they pay to the blockchain network.
USDT is a stablecoin that maintains a stable value to protect your investments. With access to a wider range of stablecoins, you can diversify your crypto portfolio and take advantage of new opportunities in the market.
Sending and receiving USDT from Xapo Bank
It takes just a few taps on your Xapo Bank app to make USDT transfers. To receive USDT, log in to your Xapo Bank app, tap Receive, then select Tether to view your QR code or manually copy the address.
Relatedly, to send USDT, all a member needs to do is login to the Xapo Bank app, tap send, select Tether and follow the prompts shown on the screen.
An unending streak of innovation in global digital payments
This is just the latest in a string of payment innovations from Xapo Bank, enabling our members to seamlessly move money around the world in both fiat and crypto currencies.
We are honoured to be the first bank in the world to offer complete stablecoin money movement rails into and from a fiat account, first with our USDC integration feature, and now with this new USDT:USD conversion service. We also integrated with the Lightning Network, bringing Bitcoin to our members’ everyday lives by enabling lightning fast Bitcoin transactions at significantly lower fees.
Our commitment to innovation and member-centric solutions sets Xapo Bank apart in the delivery of secure, accessible private banking that bridges the gap between traditional finance and decentralised finance.
Join Xapo Bank and experience the future of banking.
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