USDT to fiat solution?

[fblbatt]

Hi, does anyone know of any gateway or OTC desk that can do USDT to fiat on a regular basis? Currently I have a corp. account with bitfinex, but they take weeks to deliver even an express payment. I have a kraken account but they don't have USD withdrawals, only EUR. Pls advise.

 

[void]

Use kraken to deposit USDT and convert to EUR. Withdraw EUR from kraken to TransferWise (allowed) and convert to USD.

 

[fblbatt]

It won't work, the exchange commission will wipe out the profit margin.

 

[John Spectre]

bitstamp, ccex, coinbase, gemini?

 

[void]

It won't work, the exchange commission will wipe out the profit margin.

if you mean the fee for converting EUR to USD on TransferWise then 0.329% doesn't sound that bad and I doubt it could bust you unless your strategy has super low margin and you work with huge volume

 

[Udzhat]

Use kraken to deposit USDT and convert to EUR. Withdraw EUR from kraken to TransferWise (allowed) and convert to USD.

Is this a proven method? Withdrawal from kraken to transferwise.
I don’t know how about of withdraw, but I can't charge Kraken account by transferwise. TW blocks transactions to Kraken.

 

[7889]

Only bfx and Kraken have USDT/USD markets. Bfx is unbelievable POS when in comes to fiat withdrawals (and you can only guess from what shithole money will hit your bank accoutn if they ever do). Kraken absolutely DOES usd withdrawals (it's a USA company after all) via Etana custody and their own OTC desk (100k min). Money will be sent from legit USA banks. I can only say good things about them really. If you don't have Etana option in your withdrawals try contacting support, because it may have not been rolled out to everyone yet.

 

[void]

I don’t know how about of withdraw, but I can't charge Kraken account by transferwise. TW blocks transactions to Kraken.

They block deposit but don't block incoming transactions from crypto exchanges - ask support, you'll get this answer.

 

[Udzhat]

They block deposit but don't block incoming transactions from crypto exchanges - ask support, you'll get this answer.

Tnanx
its usefull

 

[OTR365]

Kraken absolutely DOES usd withdrawals (it's a USA company after all) via Etana custody and their own OTC desk (100k min). Money will be sent from legit USA banks. I can only say good things about them really.

Etana Custody has a separate KYC, and it is very tight. Also, to be able to withdrawal larg-ish amounts (>25K USD), one needs to be verified to the highest level at Kraken. For most people these are not a problem, but might be for some.

In general, Bitfinex guys were too smart for their own good. Instead of full compliance from the very beginning, they chose to play cat-and-mouse offshore game. They lost, and I do not expect them to gain any credible banking connections for a long time.