What is happening?
We are strengthening what stands behind every dollar you hold with ARQ. From October 29th, your digital dollars get a new name, USDs. You will see USDs instead of USDc in the app and in any related account statements. At any time, you can see exactly what assets are backing your USDs at ARQ on our new transparency page.
What is USDs?
USDs is a digital dollar issued for ARQ by Bridge, a Stripe company. Every USDs is backed 1:1 by cash and short-term U.S. Treasuries, held at top-tier institutions such as BlackRock and BNY Mellon. Your balance stays in digital dollars, and our new transparency page always shows you in real time exactly what backs it, verified every month by an independent accounting firm.
What stays the same: everything you do
Your money stays in your ARQ account. Your balance in USDc converts 1:1 to USDs at no cost, your history stays as it is, and there's nothing you need to do. Your digital dollars continue being digital dollars.
What is the difference between USDc and USDs?
USDc is a digital dollar issued by Circle, with its reserves held by Circle. USDs is a digital dollar issued by Bridge, a Stripe company. Its reserves of cash and short-term U.S. Treasuries are held at top-tier custodians such as BlackRock and BNY Mellon.
How do I know USDs is fully backed?
USDs reserves are published in real time and attested every month, and you can view them here at any time. Every USDs is fully backed and can always be redeemed 1:1 for U.S. dollars.
What will happen to my account when it’s converted?
You should see your digital dollar balance converted 1:1 to USDs, while all historical transactions will remain the same. All account functionality will remain exactly the same.
What will happen to USDc and USDt crypto deposits?
They will be converted 1:1 to USDs. We are working on enabling 1:1 crypto withdrawals in the coming weeks.
What if I don't want to migrate to USDs?
You can close your account at any time before or after the move, but we’d be sad to see you go.
By continuing to use ARQ, you agree to our updated Terms and Conditions.
