001K Launches Zero-Fee Platform for USDT-to-USDC Swaps in EU

Crypto service 001K has launched a web platform for cryptocurrency exchanges, which allows users to perform zero-fee USDT-to-USDC swaps.

The launch of this platform is significant because USDT is no longer available for trading or purchase on popular platforms such as Coinbase, Binance, Kraken, and OKX for users in the EU due to regulatory issues with Tether's authorisation under the MiCA regulation.

This means that those who receive income in USDT and live in Europe have no choice but to switch to USDC. However, this switch comes at a cost - popular wallets charge a 0.875-1% fee for swaps, which can amount to up to $600 per year for users with a monthly income of $5,000.

The new platform removes this fee entirely, providing a convenient and cost-effective solution for users who need to convert between USDT and USDC.