Overview

Slash supports two stablecoins for funding your account and making payments: USDC (USD Coin) and USDT (Tether). Both are designed to maintain a 1:1 peg with the US dollar, but they differ in important ways. This guide explains the differences to help you choose the right option for every scenario.

Key Differences Between USDC and USDT

Issuer and Backing

USDC: Issued by Circle in partnership with Coinbase through the Centre Consortium. USDC reserves are held in cash and short-term U.S. Treasury securities, with regular third-party attestations published monthly by Grant Thornton LLP. USDC is designed with a strong emphasis on transparency and operates within established financial frameworks.
USDT: Issued by Tether Limited. USDT reserves include cash, cash equivalents, U.S. Treasury bills, and other assets, with reserve breakdowns published in regular reports. USDT is designed for broad accessibility and liquidity across global crypto markets.

Regulatory Standing

USDC: Circle is a licensed money transmitter in the U.S. and operates under regulatory frameworks in multiple jurisdictions, including MiCA in the EU. USDC is available on 30+ blockchain networks, supporting a wide range of compliant financial and crypto use cases.
USDT: USDT is the most widely traded stablecoin by volume and is supported across 10+ blockchain networks, including Ethereum, Tron, and Solana. Its broad multi-chain availability makes it widely used for trading, payments, and transfers globally.

Geographic Availability

Due to regulatory restrictions, USDT availability varies by region:

USDC: Available for all Slash customers globally.
USDT: Not available for customers with physical addresses in European Union countries (including Ireland, France, Germany, and other EU member states) due to regulatory restrictions.

Supported Networks

Both USDC and USDT can be sent to Slash across multiple blockchain networks:

Ethereum (ERC-20)
Solana
Base
Polygon
Tron
Stellar
Arbitrium
Optimism
Avalanche

Make sure you select the right network and input transaction details correctly whenever sending funds on the blockchain. Cryptocurrency transactions can’t be canceled or reversed once submitted, so it’s important to confirm all details with your recipient beforehand.

Need More Help?

If you have questions about stablecoin funding options or need help determining which option is right for your business, contact our support team through the app or at support@slash.com, or use the in-app chat in your Slash dashboard.

USDC and USDT: Stablecoin Options at Slash