Users can now withdraw funds by redeeming stablecoins against USD via the TrustToken or Pax Dollar platform.
How to withdraw fiat with TrustToken (TUSD)?
TrustToken (TUSD):
Sign up for an account here by submitting your email and required documents, and allow 3-4 days for review.
After your account is set up, visit the TrustToken site to input your bank info and get your unique redemption address.
Send TUSD (a minimum of $1,000) from the Crypto.com App to your unique redemption address.
A mandatory 2FA needs to be completed once you attempt to initiate a withdrawal.
Image credit: TrueUSD
TrustToken’s banking partner will issue a wire to your bank account (within 1 business day).
How to withdraw fiat with Pax Dollar (USDP)?
Pax Dollar (USDP):
Sign up for an account here.
Fill in your details (see here for guidance), and allow 1-3 business days for review.
Once your account is created, deposit USDP from your Crypto.com App.
Once done, search for the “Transfer” button on the Paxos site for the USD fund withdrawal function. You can then send USD to your bank account by inputting your bank details.
Notes and disclaimer:
TrustToken does not charge fees for redemptions. However, domestic fees and international transmittance fees may apply.
Paxos Standard charges no fees, however, customer banks may charge a fee for initiating/receiving a wire deposit. There are no minimum limits for USDP to USD redemptions.
THE STABLE COINS AND USD REDEMPTION IS HANDLED AND PROCESSED BY TRUSTTOKEN OR PAX DOLLAR, CRYPTO.COM IS NOT RESPONSIBLE OR LIABLE FOR ANY DISPUTE ARISING FROM SUCH ARRANGEMENT.