FV Bank Introduces USDT Deposit Feature

Clients of FV Bank can now fund their deposits using USDT with real-time stablecoin-to-dollar conversion.

FV Bank, a licensed U.S.-based digital bank, is enhancing stablecoin integration within the TradFi ecosystem by allowing holders of U.S. dollar accounts to fund their deposits using the stablecoin USDT. The deposited stablecoins are automatically converted to the U.S. dollar upon receipt. This service is available to both individual and corporate clients of the bank.

According to the FV Bank blog, this new feature aims primarily to optimize cross-border payments by eliminating reliance on traditional bank transfers and avoiding exchange-related fees. The bank highlights several key use cases for USDT deposits, including:

• payment for freelancers operating in the global market;
• receiving cross-border payments for entrepreneurs;
• managing corporate cross-border financial flows.

The press release notes that the direct USDT deposit feature provides an optimized solution for transactions of any size. Each transaction undergoes rigorous on-chain analysis to ensure security and compliance with regulatory standards.

FV Bank launched similar services with USDC back in September 2021. Additionally, the bank recently introduced new debit and corporate cards in partnership with Visa. These cards are integrated with custodial services for digital asset storage, enabling users to manage both fiat currencies and cryptocurrencies for everyday needs.