All articles

Users can now sell stablecoins USD Coin and Tether

Customers, who could previously only purchase USDC and USDT, can now exchange the stablecoins back to fiat.

23 Aug 2021by Geoffrey Lyons

We’re thrilled to announce that users are now able to sell stablecoins USD Coin (USDC) and Tether (USDT).

Fiat-backed stablecoins, which are cryptocurrencies whose price is pegged to fiat money (e.g. the US dollar), play a vital role as a hedge against the volatility of cryptocurrencies. They also make crypto payments denominated in fiat much easier, which is why some call them the bridge between crypto and fiat.

USDC and USDT are both pegged to $1 USD. There are subtle differences between them—for example, USDT is often used in trading payments while USDC is more commonly used by US-based institutions for billing purposes—but on the whole both are reliable and trustworthy cryptocurrencies.

Previously our users could only buy USDC and USDT with fiat, but this new sell functionality now makes it easy to make exchanges in either direction. Cash-outs are supported via Automated Clearing House in the US, Faster Payments in the UK, and Single Euro Payments Area bank transfers in Europe.

To sell USDC, USDT, and other cryptocurrencies, visit sell.moonpay.com