Coinbase Exchange Company cryptocurrency in the united statesplease Client converts USDT to USDC, a stablecoin issued by Circle and co-founded by Coinbase in 2018.
The exchange believes that USDC is a much safer alternative. After the FTX crash event and also waived any fees to convert USDT to USDC on the platform.
“We believe that USD Coin (USDC) is a reliable and reputable stablecoin. So we’ve made the conversion even more seamless: starting today. We will be waiving the fee for retail customers worldwide to convert USDT to USDC.”
Coinbase also emphasized that USDC is 100% backed by “short-term cash and US treasuries held in US regulated financial institutions” and is always 1:1 exchangeable to the US dollar.
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