USDC cash out has been one of the most widely requested features from our community since RECUR launched. We’ve been working behind the scenes to determine the best way to launch this feature and are excited to announce that USDC cash outs will be available to RECUR users across the globe starting later this month!
We’re excited to be able to bring an all new cash out option to our community. In addition, we are hard at work to bring even more payment and cash out options to RECUR in the near future.
USDC cash out will be available across all experiences Powered by RECUR and Built on RECUR in the coming weeks—stay tuned for the soon-to-be-announced release date. Users will be able to withdraw USDC on all blockchains we support—Ethereum, Polygon, Avalanche, and NEAR.
While we customized and integrated fiat cash out into RECUR experiences to provide RECUR users the best experience possible, many of our payment features are powered by an external provider. Unfortunately, our current provider will be deprecating its fiat cash out services for U.S. domestic and international wires for all of their API platform partners—RECUR included—and are winding them down later this month.
As a result of our current provider's feature deprecation, fiat cash out on RECUR will be temporarily disabled for users later this month. While fiat cash out will be temporarily disabled on RECUR, users will continue to be able to withdraw their funds utilizing our new USDC cash out feature.
In addition, our team is hard at work to implement a new fiat cash out solution that provides even more payment options as quickly as possible.
Fiat cash out will be temporarily disabled beginning on March 23, 2023 at 9am PT. If you would like to cash out using a fiat wire withdrawal from your RECUR account, please do so prior to that time.
We know how important cash out is to all RECUR users across the globe. We’re disappointed to hear that our current provider is deprecating this feature and it is our top priority to re-enable fiat cash out with even more fiat cash out options.
With the release of USDC cash out and the forthcoming addition of all-new fiat payment and cash out options, payments on the RECUR platform will be better than ever.
All other payment functionality will remain available for users on RECUR. You can continue to use debit and credit cards to purchase in drops or on any marketplace Powered by RECUR or Built on RECUR and hold a balance in your RECUR wallet just as you can today.
We will continue to provide updates throughout this month regarding the launch of USDC cash out.
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UPDATE MARCH 16, 2023 AT 8:30PM ET
This evening, our third-party provider for fiat cash out suddenly notified us of an urgent change. They will no longer be accepting fiat cash out withdrawals effective Friday, March 17th at 3am ET across all of their Payouts API customers. Out of an abundance of caution to ensure users do not have their wires stuck in transit, we have disabled fiat cash out withdrawals on all RECUR experiences effective immediately.
We understand the frustration that this expedited timeline may cause and are working as quickly as possible to enable USDC cash out this month. We appreciate your patience and support and will continue to provide updates as we have them.
