Due to recent regulatory changes within the European Union (EU), FunderPro will transition from USDT (Tether) to USDC (USD Coin).
Due to recent regulatory changes within the European Union (EU), FunderPro will transition from USDT (Tether) to USDC (USD Coin).
Here are the Highlights of the article “FunderPro Shifts to USDC Payments Following EU Regulatory Changes”:
FunderPro has announced a major update to its payment process, effective Friday, January 24th, 2025. Due to recent regulatory changes within the European Union (EU), FunderPro will transition from USDT (Tether) to USDC (USD Coin) for all future affiliate and funded trader payouts. This shift is in direct response to new EU restrictions that limit the use of USDT for transactions involving EU-based clients.
The firm assured users that the transition should be seamless for most, as USDT and USDC are based on the same blockchain standards, such as ERC-20 and TRC-20. This means that wallets currently supporting USDT should also be able to receive USDC without issue. However, FunderPro advises all users to verify that their wallets are compatible with USDC to avoid any disruptions to payment processing.
Affiliates and funded traders who wish to update their wallet addresses to accommodate this change have until Thursday, January 23rd, 2025, to do so. FunderPro emphasized that it will not be held responsible for any payments that are lost or delayed due to incorrect or outdated wallet addresses, making it essential for users to ensure the accuracy of their information.
Although the regulatory changes specifically affect EU-based clients, FunderPro is adopting USDC across the board. This means that even non-EU residents must provide a valid USDC-compatible wallet address for future payments. By fully transitioning to USDC, FunderPro aims to provide a smoother and more secure payment process for its global network of affiliates and traders while staying in compliance with evolving regulatory requirements.
Clients have to prepare for the switch by ensuring their wallets are ready to accept USDC by the January 24th deadline.
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