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Can a bank receive and send USDC?

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min read
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Can a bank receive and send USDC?

Xapo Bank is currently the only bank in the world to receive and send USDC. USDC sent to a Xapo Bank account is instantly converted to US Dollars on a 1 to 1 basis, which automatically starts earning 4.6% annual interest*.

How do I transfer USDC coins to a bank account?

Xapo Bank is currently the only bank in the world that supports sending USDC to a fiat bank account.

What does it cost to send USDC?

It could cost between 0.1 USDC to 35 USDC to send USDC from your wallet to another. It typically depends on the exchange you use for the transfer and the blockchain network your USDC lives on.

However, at Xapo Bank, our members enjoy free USDC transfers, as part of their membership benefits. We do not charge our members any fees to send or receive USDC.

What is the USDC transfer fee?

USDC transfer fee is a commission charged by the exchange operator to encourage users to use the USDC token. It is set when you sell or buy USDC tokens on exchanges. The amount of this fee depends on the exchange, but it ranges from 0% to 10%.At Xapo Bank, we do not charge our members any fees to send or receive USDC.

Xapo Bank is a crypto-enabled bank licensed by the Gibraltar Financial Services Commission. We give our members access to a US Dollar and Bitcoin account, successfully bridging the gap between traditional banking and crypto. USDC deposits into Xapo are immediately converted to USD on a 1:1 basis, giving instant dollar cash value with zero exchange fees.

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