Algorand and Bank transactions?

General
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1

Hello,

I have a use case, where a user will join our system and add some amount in his wallet using debit/credit card, my client wants me to use Algorand for the blockchain, Is there any way i can resources where we can use algorand and do the bank transactions as well.

I can also use Circle, as circle is using algorand.

Thanks,
Zeeshan

1 Like
2

Hi Zeeshan,

Can you explain the steps a bit more? It is a little unclear what transactions the user is taking after she deposits money via debit/credit card.

  1. User deposits money via debit/credit card.
  2. User issued USDC on Algorand
  3. ?
  4. ?

Thanks!

3

I am interested in knowing the exact tx cost for Alogrand powered USDC? Would appreciate if there is a reference to live data.
I am trying to use Algo powered USDC for a fintech app.

4

Hi Keka,

USDC is an Algorand Standard Asset (ASA) so transaction fees are the same as if you are transacting an Algo meaning they have the same minimum fee of .001 Algo. For example, here is a transaction just a little bit ago for $706,550.13 USDC which cost only .001 Algo.

5

Thanks for the info.

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6

Which is only about $.0003. :grinning:
It’ll be nice once USDC rolls out on some exchanges. I believe it’s only available through Circle’s business APIs at the moment.

7

You can track USDC activity here:


and another slightly different view:
1 Like
8

Thank you for the resource.