What is the USD Bundle?
USD Bundle is a bundled asset that comprises the U.S. Dollar and stablecoins. The list of stablecoins is currently:
USDC
All assets within the USD Bundle can be freely deposited or withdrawn anytime at a 1:1 ratio with no conversion fees or spreads incurred. The USD Bundle will be displayed throughout the Crypto.com Exchange’s user interface as USD. For example, the Bitcoin/USD Bundle trading pair will be denominated as BTC/USD.
How will my deposits be reflected in the USD Bundle?
When you deposit U.S. dollars or any USD Bundle stablecoins into the Crypto.com Exchange, you will see a consolidated balance in your account. If you have any existing U.S. dollars or stablecoin balances, they will be consolidated into the USD Bundle asset and displayed as a single amount. All assets in your USD Bundle balance will be shown as per the screenshot below:
How do withdrawals from my USD Bundle balance work?
All USD Bundle assets can be freely withdrawn at a 1:1 ratio to the U.S. Dollar with no conversion fees or spreads incurred.
Can I trade with the USD Bundle?
Trading with the USD Bundle is performed via the USD Bundle-denominated trading pair, referred to as /USD.
However, please note that all USDC-denominated trading pairs will be removed from the Exchange, and the following Spot pairs will be removed:
USDC/USDT*
*USDT/USD will be added to the Exchange
How do I know that my USD Bundle assets are safe?
Crypto.com is deeply committed to security and data privacy, working tirelessly to safeguard your personal information and assets. If your Exchange or Crypto.com App account is compromised even after enabling certain security features, the Account Protection Programme (APP) protects up to US$250,000 worth of your assets. For more information on the APP, please refer to the FAQs here.
Additionally, if users' funds are at risk after a security event occurs, we will swiftly assess the situation and take the necessary steps to eliminate or minimise its impact. At every step of the way, you will be informed through our communication channels.
Are any other Crypto.com Exchange functions or features impacted by the USD Bundle?
Every feature and function involving USDC, and USD will be updated after the USD Bundle is introduced to the Exchange. These include the following key areas:
Deposit and Withdrawal Records
All transfer records will remain intact
You will be able to see your deposits and withdrawals at the currency level
Stablecoin Conversions
The 1:1 stablecoin conversion feature will be removed. Stablecoin conversions will no longer be required after the introduction of the USD Bundle.
The following stablecoins – USDC will be added to the USD Bundle
Trading Bots
All trading bots with USDC trading pairs will be replaced with the USD Bundle equivalent
Filled orders in the past with USDC pairs will be referred to as ‘USD’ in the Trade History menu
OTC Trading
All OTC USDC trading pairs will be replaced with their USD Bundle equivalent. For example, ETH/USDC will now be ETH/USD.
Existing LTV Loans
All USDC loan principal amounts will be converted to the USD Bundle and the interest will be settled in the USD Bundle
All users’ loan histories will remain intact
Convert
USD in the Convert service refers to the USD Bundle.