We are thrilled to announce that our sell feature is now live in the United States of America, giving users in 47 states a lightning-fast, streamlined way to cash out Bitcoin, Ethereum and Bitcoin Cash straight to their bank account.
Anyone in the US (except residents of Hawaii, New York, and Rhode Island), can now seamlessly cash out crypto straight to their bank account in a few taps, with all the speed and convenience of the MoonPay purchase checkout journey. In addition, we’ve added Ethereum as an option to our existing sell flow.
A safer, faster way to sell crypto
To give our users complete transparency and peace of mind when converting crypto into fiat, our new ACH Sell flow is fully compliant with US principal trading requirements. A part of this is having users smoothly complete their identity verification before transaction using MoonPay's streamlined KYC flow.
This enables us to offer users a fixed and guaranteed price for their crypto, provided they send us their digital assets within twenty minutes of order creation. In the event we receive a user's cryptocurrency after this twenty-minute window, they can accept a new updated quote, or receive their crypto back.
As a principal trader, MoonPay is authorized to send payments directly to our users, ultimately making the new US sell flow significantly faster. From the moment you place an order to the moment we send the outbound bank transfer, the ACH sell experience has become twice as fast than our current offering.
Commenting on the new feature, our CEO Ivan Soto-Wright noted:
We are thrilled to be able to totally redefine the experience of moving from crypto to fiat. The US is by far the world's largest market for crypto, and we see this as a crucial stepping stone to enabling universal access to digital assets.
Instant Buy functionality coming soon
Our hard work delivering the sell feature has paved the way for Buy via ACH Instant, enabling lightning-fast crypto purchases in the US via bank transfer. When launched, users will be guaranteed a fixed amount of crypto for their purchase.