USDC

How long does it take for the USDC I sent to arrive at the receiving wallet?

On average, Ethereum transactions take about 5 minutes until they are confirmed. However, it could be faster or slower, depending on the level of network congestion.

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How can I deposit USDC?

To deposit USDC as USD into your Xapo Bank wallet, please follow the steps below.

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How can I withdraw USDC?

We convert your US dollars for USDC automatically at a dynamic conversion rate at the point of withdrawal. You can withdraw US dollars as USDC using the Ethereum network.

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Are there any fees for sending USDC?

USDC withdrawals are subject to a Blockchain fee that can be seen right before completing a withdrawal. These fees do not represent a profit to Xapo Bank.

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What is the conversion rate for the USDC I send out?

Your USDC deposits are seamlessly converted to USD at a real-time market rate.

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What is USDC?

The USD Coin (USDC) is a stablecoin pegged to the US dollar. It can be redeemed on a 1:1 basis for US dollars, which means 1 USDC is equal to 1 USD.

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Do I need to first buy USDC before I can send USDC via the Xapo Bank app?

No, you do not need to buy USDC before using this functionality. When you choose USDC as the currency you wish to send to a beneficiary, your US Dollar account will be debited for the amount you want to send.

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Do I have to do anything to get access to send USDC feature on the Xapo Bank app?

At Xapo Bank, we prioritise convenience and security. All members are automatically enabled to send USDC and you only need to have a positive US Dollar balance.

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Why does Xapo Bank only support stablecoin deposits on the Ethereum Network?

At the moment Ethereum is the largest blockchain network for transferring stablecoins. We may add more networks in the future based on the demand from our members.

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