Funding using USDC

Is there any plans for Alpaca to support USDC as a funding option? This would greatly decrease the cost of funding and speed up the process, specially for non-US users.

It’s seems like it’s well supported by Circle with their payouts options, Payout APIs for Stablecoins | Corporate Treasury Software.

It would work something like this.

  1. User registers his blockchain address with Alpaca (through the api)
  2. User sends USDC to Alpaca USDC address
  3. Alpaca requests payout from Circle
  4. Money arrives to Alpaca bank account from Circle
  5. Alpaca matches address with user and funds the account

And with the tech Alpaca has regarding Instant ACH, same could be applied for the USDC, funding the account in seconds.

Hi @ingig

I appreciate your concern, You’re asking a great question. There’s no way to do that at the moment, but the good news is that we would come soon is the wallet transfer in with USDT please keep an eye on our official channels for the update :slight_smile:
Unfortunately, we don’t have plans yet for USDC in the nearest future but we are aware of circle’s offering.

Thanks again for writing in and I’m sorry that I didn’t have better immediate news for you

Hi @masjaya.sutarno

Thank for the reply. USDC or USDT, it doesn’t really matter :slight_smile: The important part is the easy & cheap transfer.

Will this mean that people with us_equity account (not crypto) can use USDT to fund their account?

Hi @ingig

Yes, would be able to deposit USDT and liquidate it to USD.

@masjaya.sutarno that’s great :+1:

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@masjaya.sutarno I see you guys have launched funding using crypto, congrats on that :+1: Introducing Alpaca Crypto Wallets and Coin Pair Trading with 52 BTC, USDT & USD Pairs

When do you think we will see info on implementation in the Broker API?

hi @ingig
as of now, we don’t have the ETA for this function to be implemented in broker API.
the wallet is only available in selected international jurisdictions and 13 U.S. states: California, Massachusetts, Montana, Missouri, Maryland, Kansas, North Dakota, South Dakota, North Carolina, Nebraska, Utah, Connecticut, and Iowa.