Coinbase Offers No-Fee Conversion of USDT to USDC

Coinbase is offering to convert USDT to USDC with no fees.  The firm said in a Thursday (Dec. 8) blog post that the recent turmoil in the cryptocurrency markets had seen a “flight to safety,” even from fiat-backed stablecoins, which are cryptocurrencies pegged to reserve assets like the U.S. dollar.

Timeline of Usd-coin, Tether

Coinbase, one of the largest cryptocurrency firms in the industry, has published a blog post that tells users to “switch to the trusted and reputable digital dollar,” referring to the stablecoin asset usd coin.

U.S.-based crypto exchange Coinbase surprised industry watchers by showing a preference for one stablecoin over another. Specifically, the company has encouraged customers to convert their USDT stablecoin to USDC.

Nasdaq-listed cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) has thrown its weight behind USD Coin (USDC), the stablecoin issued by Circle, in a broadside against Tether, the issuer of the world's largest stablecoin USDT. "The events of the past few weeks have put some stablecoins to the test and we've seen a flight to safety," Coinbase said in a blog post, adding: "We believe that USD Coin (USDC) is a trusted and reputable stablecoin.

Recently, there has been a significant amount of worry over the credibility of Tether (USDT). In a most recent turn of events, controversy seems to be brewing in the industry as a result of Coinbase publishing a blog post that criticizes USDT and urges users and investors to migrate to its competitor, USD Coin (USDC).

The drama surrounding FTX and Binance continues to unfold as new text messages emerge that show what went on behind the scenes as the exchange crumbled. The post CZ accused SBF of trying to depeg USDT though Alameda appeared first on CryptoSlate.

According to a blog post published on December 8, Coinbase is encouraging its users to exchange their Tether (USDT) holdings for USD Coin (USDC). The US-based exchange claims that recent events have demonstrated that during volatile times, clients require stability and trust in fiat-backed stablecoins.

Coinbase has called on users to convert their Tether stablecoins to the stablecoin it cofounded, USD Coin — while waiving fees for doing so. The post Stablecoin wars heat up as Coinbase offers fee-free swaps from USDT to USDC appeared first on The Block.

Coinbase is incentivizing its users to convert their Tether (USDT) holdings for USD Coin (USDC), according to a December 8 blog post. The post Coinbase asks users to convert their USDT to USDC for free appeared first on CryptoSlate.

On Thursday (8 December 2022), Coinbase announced that it had decided to make it easier for its “global retail customers” to convert Tether ($USDT) to USD Coin ($USDC), highlighting the latter's good reputation without directing attacking the former.

Coinbase (NASDAQ: COIN) has urged its customers to switch from Tether (CRYPTO: USDT) to USD coin (CRYPTO: USDC), billing it as the "most dependable and reputable digital dollar." What Happened: In a blog post on Thursday, Coinbase said that USDC is fully backed with “high-quality reserves.