Many users today have interacted with Fern’s conversion features to move seamlessly between stablecoins and fiat currencies. Today, we’re excited to announce some big upgrades to our conversion experience to support even more robust conversion flows.
Onramp
Onramps now have their own dedicated experience. To initiate an Onramp, look for “Onramp” in the Quick Actions menu or the ⬇️ arrow in your Account detail page (to Onramp to a specific account).
To onramp, select or link a bank account and the network where you would like to receive USDC.
You’ll receive dedicated transfer instructions in a new tab. Your unique USD transfer instructions will tell you precisely how much USD to send, where to send it to, and a specific reference ID to include as an external memo with your transfer. These instructions will also be sent to your email so you can complete the USD transfer at any time. Transfer instructions are valid for 30 days from the time of initiating your onramp.
This experience is more manual than it used to be, but transactions no longer have limits. Whether you want to onramp $10,000 or $1,000,000, Fern can now support you with one transaction.
Once you have transferred funds and they have been received, Fern will send you USDC on your desired network.
At this time, Fern only supports onramping into USDC. However, you can use our new Convert modal to convert your USDC to ETH instantly. Read on for more details.
Convert
Fern now supports converting between USDC (on any network) and ETH on Ethereum mainnet. If you’d like to convert ETH to USDC, you can also choose your destination network. It’s a bridge and a swap, all rolled into one.
Find the “Convert” feature in the Quick Actions menu or in a specific Account page with the ↕️ arrow.
We prioritized creating a really smooth and trustworthy experience for crypto swaps, where you can see a guaranteed minimum amount received, guaranteed fees, and more. Another benefit to using Fern for conversion is that you don’t need gas on any chain in order for the conversion to complete successfully!
Offramp
Offramps now support offramping ETH and USDC to USD. To initiate an Offramp, look for “Offramp” in the Quick Actions menu or the ⬆️ arrow in a specific Account page.
Similar to onramps, Fern can now support offramps of any transaction size!
USD wallets
We are deprecating USD wallets in the Fern UI. Instead of having to go through a Fern USD wallet for onramps and offramps, you can now use your linked bank accounts directly.
Feedback
We’re excited to bring even more power to the features you use the most at Fern. If you have any feedback or questions, please send us an email at hello@fernhq.com.