Due to USDT's non-compliance with the MiCA Regulation, specifically regarding transparency and reserve requirements for stablecoins, we have adjusted USDT functionality on our platform.
USDT available services
Your USDT balance remains available, with the following functions and restrictions:
✓ You can spend USDT using your IN1 card in a crypto mode.
✓ You can convert USDT to EUR, USD, or other crypto, e.g., USDC.
× You can't send USDT to other IN1 users.
× You can't buy USDT within IN1.
Note: USDT is a stablecoin that does not comply with the Markets in Crypto-Assets Regulation (MiCA), applicable in the EU and EEA. This stablecoin is subject to fewer regulatory safeguards than MiCA-compliant stablecoins and may be difficult to sell outside of the IN1 App. We encourage EU and EEA users to conduct transactions only in MiCA-compliant stablecoins.
What are the alternatives?
We're always adding new cryptocurrencies to make your IN1 experience even better! You might want to explore popular coins like USDC, Bitcoin, Ethereum, TON, Solana, and many others, which are available in the app for sending, receiving, and exchanging. Plus, you can link your card to any supported crypto and spend it seamlessly anywhere by switching your card to crypto mode.
More and more users are switching to USDC, as it offers lower transfer fees and fast transactions. You can easily buy USDC or convert your USDT to USDC at a favorable rate right in the IN1 app.
FAQ:
I have never used USDC, is it reliable?
USDC is a reliable stablecoin that fully complies with European regulatory standards. It is issued by Circle and undergoes regular independent audits, ensuring transparency and stability. Thanks to its high level of trust and compliance with financial regulations, USDC has become one of the most popular digital assets for payments and value storage.