Carbon, a FinTech company, is proud to announce that its FDIC-insured CUSD stablecoin now supports ACH payments within its suite of payment options. By enabling users to leverage ACH in addition to wire transfers, the company is widening the funnel for potential users and reducing friction for all holders of the CUSD token on both the EOS and Ethereum Blockchains. Carbon is now the first publicly available stablecoin to have released an ACH deposit and withdrawal solution for users worldwide.
“As a fintech company we are committed to reducing friction in the financial system. ACH is at the foundation of everything from payroll to paying rent so adding support; while it was not easy to integrate, it is a feature we felt the public deserved,” said Sam Trautwein, CEO and Co-Founder of Carbon. “While this is an incremental improvement, we are laying the foundation here for some of the generational leaps on the roadmap.”
Carbon has activated ACH support to its platform on EOS Lynx, the leading EOS consumer wallet. Given EOS Lynx’s wide reach and influence in the EOS Community, the company wanted to prioritize their modular implementations of the Fiat On / Off ramp, a product that is in high demand and branded as “Carbon Fiber.” Fiber will be rolled out across various partners in order to distribute the value and convenience of enabling the On / Off ramp feature set as first showcased at fiat.carbon.money. In either use case, users can seamlessly login to their bank accounts via their username and password, and with one button, buy and sell CUSD from within the platform.
As the importance of stablecoins continues to grow in a world where these products often act as the bridge between the legacy financial system and the emerging digital banking system, the support of wider range of payment options will impact both institutional and individual users of CUSD. The company is committed to helping users who have not previously used a stablecoin as well as users that previously had to rely on less reliable solutions.
An instantly redeemable stablecoin, backed by deposits held in FDIC-insured accounts, is an innovation that all consumers should appreciate. Carbon remains focused on delivering more value to consumers over time, as well as enabling Carbon to build a suite of products solving real needs for real users.
“We are excited to help lower the barrier to accessing CUSD using traditional payment methods. This is just one step forward in our mission to create a more efficient and inclusive global economy,” said Gavin Mai, Chief Product Officer and Co-Founder of Carbon.
Carbon is a FinTech company building a more efficient and inclusive financial system through distributed ledger technology and Artificial Intelligence. The company’s initial product is a price-stable cryptocurrency called CUSD that is live on the EOS and Ethereum public blockchains.
Investors include General Catalyst, FirstMark, DCG, and Plug and Play among others.
Carbon, Chief Operating Officer