USD Stablecoin Basket
Publish on 2022-05-26
AscendEX now supports deposits, withdrawals, and trading of USD! You can freely interchange popular stablecoins such as USDC and USDP in a 1:1 manner as ‘USD’ on AscendEX. US Dollar wire transfer deposits will credit USD to your account and wire transfer withdrawals will allow you to seamlessly convert popular stablecoins to US Dollars.
USDC and USDP can be deposited and credited 1:1 with USD, and you can withdraw USD as any of these 1:1. Note that USDT is not part of the USD Stablecoin basket on AscendEX; however, you can still freely deposit, withdraw and trade USDT across multiple chains, including ERC20, Solana, Arbitrum, Omni, and TRC20.
USD support will allow you to do some of the following:
· Deposit US Dollars and immediately withdraw stablecoins such as USDC or USDP
· Deposit stablecoins such as USDC or USDP and immediately withdraw US Dollars via wire transfer
· Seamlessly convert USDT for US Dollars, with 0% fees
· Trade popular assets like BTC and ETH against US Dollars and USDT on the same platform
See below for additional details:
1. USD cash and margin trading are now available on AscendEX and all trades are denominated and settled in USD. The pairs currently supported for trading on AscendEX include BTC/USD, ETH/USD, and USDT/USD.
2. With the launch of USD, all USDC and USDP assets involved in the products and services provided by AscendEX will be converted to USD. This includes USDC Staking, DeFi Yield Farming products, and USDC & USDP Convert services. In addition, AscendEX will delist USDC & USDP pairs from its cash/margin trading services, including USDC/USDT and USDP/USDT.
3. Deposits of USDC, USDP, and US Dollars will allow appear as ‘USD’ in your account; however, you can still seamlessly withdraw ‘USD’ as any asset of your choosing. For example, you can deposit USDC and withdraw USDC. You can also deposit USDP and withdraw USDC without the need to sell USDP for USDC.
Please click the following links to learn more about USDC and USDP.