USDT is a stablecoin designed to track the US dollar, and Fasset uses it as a payment rail rather than as something you are meant to have a view on. It settles in about 20 seconds, at a per-transfer price shown before you confirm and stated on the pricing page, where the same $10,000 by bank wire loses $340. You see dollars in and dollars out, and you do not need an exchange account.
That is the entire pitch. This guide is about what sits underneath it, including the parts that should give you pause.
What this guide will cover
- What a stablecoin designed to track the US dollar is, in one paragraph and no jargon
- Why a payment rail is a different question from an asset you hold
- The price and the 20 seconds, and how we measure them
- What reserves mean for a stablecoin, and what happens if it drifts from the dollar
- Redemption at par: how the dollars come back out
- Who holds what, and where client funds actually sit
- The four things this rail cannot do, stated plainly
- When a bank wire is still the right instrument
The short version already lives on the payments page: about 20 seconds to settle, and conversion priced separately from the transfer, per plan, as set out on the pricing page.
The full guide ships soon. Meanwhile the product is live, and the application runs entirely online.