Unified USD Orderbook FAQ
The Unified USD Orderbook is a feature that allows users in certain jurisdictions to trade USD pairs using USD, USDC, or other stablecoins pegged 1:1 with USD. It combines the liquidity of USD-based assets into a single orderbook for a seamless trading experience.
FAQ
1. What stablecoins are supported?
Currently, in addition to fiat USD, the Unified USD Orderbook supports:
USDC
Additional stablecoins pegged 1:1 to USD may be added in the future.
2. How do I select the asset for trading?
When placing an order, you can choose your preferred fiat or stablecoin for:
“Trade with”: Specify the fiat/stablecoin to use for trading.
“Receive with”: Specify the fiat/stablecoin to receive upon completing the trade.
3. What happens if I use a different asset than my counterparty?
The Unified USD Orderbook automatically handles the conversion internally, ensuring seamless transactions between fiat-stablecoin(s) or different stablecoins without any manual adjustments.
4. Why are all trading pairs displayed as XXX-USD?
For simplicity and clarity, all trading pairs in the Unified USD orderbook are displayed as XXX-USD. This unified representation eliminates confusion about which stablecoin is being used while keeping the focus on the trading asset.
5. Are there any additional fees for using a specific stablecoin?
No additional fees are applied based on your choice of stablecoin. Standard trading fees apply, as determined by your trading fee tier.
6. Can I withdraw my balance on a specific stablecoin?
Yes, you can withdraw your balance in your preferred stablecoin (USD, USDC, or others as and when applicable) as per usual platform withdrawal options.
7. How can I get started with the Unified USD & USDC Orderbook?
Below is how you can kickstart your trade with Unified USD & USDC Orderbook:
Log in to your account on the platform
Go to the trading section
Select a USD trading pair (for example, BTC-USD)
Choose your preferred stablecoin for “Trade with” and “Receive with” options
Place your trade
8. Will there be any delays in withdrawal?
Upon completion of a trade, the fiat and any stabecoins purchased may be subject to a withdrawal hold of up to fourteen (14) business days or longer, based on your risk profile, at our sole discretion. After the hold period, you may withdraw your funds. You acknowledge that transfers may not be processed outside normal banking hours and may be delayed due to bank holidays, bank processes, or other factors beyond our control.