Coinbase Waives Fees for Converting $USDT to $USDC

Coinbase is urging users to convert $USDT to $USDC and is waiving fees for global retail customers to convert $USDT to $USDC.

$USDC is a fiat-backed stablecoin launched by Coinbase and Circle in 2018. It is 100% backed by cash and short-dated U.S. treasuries held in U.S. regulated financial institutions. Customers are calling for transparency, and $USDC delivers via monthly attestations by Grant Thornton LLP, Coinbase said.