Coast - Fiat On Ramp To PulseChain

Beta is now Live – Buy USDC on Ethereum


After 12 months in development, the Coast Fiat on-ramp is taking a major step today with the release of our Beta software allowing users to buy and sell USDC on Ethereum. We have successfully completed all on the regulatory and compliance requirements of our banking partner, Prime Trust. As a result, we are now able to accept customers in almost every jurisdiction across the United States. 

Click here to start using the on ramp

Beta Release Features

Buy USDC on Ethereum

The Beta has a deliberately-limited feature set. You will not find any trading (except between $USD and USDC), borrowing or lending services – just a simple way to buy USDC on Ethereum using a Debit/Credit Card, Wire or ACH Transfer and have it delivered to your external Ethereum wallet or stored in your Digital Account.  

US Customers

Coast is now able to accept customers in all US states with the temporary exception of:

  • Connecticut
  • Hawaii
  • Iowa
  • Maine
  • New York
  • South Dakota
  • Texas
We are actively working with our banking partner to obtain regulatory approval to operate in these locations and will post future updates here. 

Fee Structure

The cost structure for using the Coast platform includes two separate fees:

  1. On/Off Ramp Fee
    Charged by Coast when a user deposits fiat into (on ramp) or withdraws fiat from (off ramp) their digital account.
  2. Exchange Fee
    Charged by Prime Trust (0.1%) when a user swaps $USDC for USD within their digital account.

Both of these fees along with the total cost are shown in the Buy / Sell summary area of the Buy and Sell page on the app. There is no fee associated with withdrawing USDC from your digital account to your external wallet (we cover the gas costs for you!). 

Fee Reduction

The standard On/Off Ramp Fee charged by Coast is 4%. This can be reduced to as low as 1% by locking WAIT tokens in the Coast Locking contract (accessible through the app.) The more WAIT you lock, the lower your On/Off Ramp Fee according to the following table:

  • 0 WAIT locked = 4% Fee
  • 1,000 WAIT locked = 3% Fee
  • 10,000 WAIT locked = 2% Fee
  • 100,000 WAIT locked = 1% Fee
There is no minimum time limit for locking. As long as your WAIT tokens are locked when you perform an On/Off Ramp function, the appropriate fee will be charged. When you unlock your WAIT tokens, 95% will be returned to you with the remaining 5% held in the contract to be burned by the manager address. 

UK Customers

More good news, our banking partner has approved us to accept customers in the UK. We anticipate allowing UK customer registration as soon as Wednesday, June 21st. If a customer in the UK attempts to create a Coast account in the interim, you will be unable to complete the KYC requirements. But don’t worry, we’ll have full UK support very soon. 

Australia & Canada

We are in the final stages of compliance checks that will allow Coast to support customers in Australia and Canada. It is expected that both these markets will be added during the Beta allowing users in both markets to buy USDC on Ethereum. 

New Features

Beyond providing a way for users to buy USDC on Ethereum in new markets, we are working on two main verticals for expansion of the Coast platform: 

  1. Adding support for HEX Ecosystem assets (HEX, wPLS, WAIT etc…)
  2. Adding support for PulseChain (all assets on the chain)

These feature will require a unique tech stack, flow of fund, compliance review and legal opinions before we can release them. We are working on both features simultaneously and will provide additional updates here as they become available. 

What's Next?