By integrating with The Clearing House’s new Real Time Payments (RTP) network, Coinbase can now offer customers in the United States with linked banks accounts instant 24/7 withdrawals up to $100,000. Many customers who withdraw funds opt for Automated Clearing House (ACH) transfers, which can take up to 5 days to move through the pipes of the traditional financial network. Instant cash outs via RTP let them get their money in seconds, 24/7, without the high costs of uncapped fees. Plus, there are no limits on the number of times they can cash out per day. However, there is a fee of 1.5% of the transaction amount for anything up to $10,000 (anything over $10,000 is a flat fee of $150).
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At the September 28-30 CordaCon2021, I’ll be providing an overview of recent retail CBDC developments. You can register for the event here: https://www.cordacon.com
On October 4 I’ll be providing an overview of international work on retail CBDC and evolving thinking on motivations, system design and safeguards at The CBDC Conference. You can register for this and the full three-day (October 4-6) event here: https://www.cbdc-conference.com/index.php