Xapo Bank shared that the new feature allows its members to bypass the cumbersome and expensive SWIFT payment system through outrails added to its existing USDC onramps. By utilizing the USDC stablecoin, members can deposit and withdraw funds from Xapo without fees and benefit from a one-to-one conversion rate from USDC to the U.S. dollar. In addition, all USDC deposits are automatically converted to the dollar, which enables members to earn an annual interest rate return of up to 4.1%.
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Source: Cryptocurrency - investing.com
