Crypto

4 min read

August 23, 2022

Withdraw USDC to Solana for Free from a Checking Account

We are excited to announce that Juno now supports withdrawing USDC to Solana for free directly from a checking account. This is the first-of-its kind experience that combines the lightning fast Solana blockchain with a checking account interface that millions of Americans already trust.

With this, Juno supports instant withdrawals of USDC from a checking account to Ethereum Mainnet, Layer 2 chains like Arbitrum and Optimism and now one of the top alternative Layer 1s – Solana.

Why USDC on Solana?

USDC does everything your fiat money does but only better. Send money to a friend, get your paycheck, pay bills, shop with Solana Pay — all of it without being held back by banks. In the Solana ecosystem, USDC is trusted by millions of users across 150+ countries. Over 5 Billion USDC is in circulation already on the Solana blockchain.

Juno x Solana

Transferring crypto across networks today is super slow and painful. A single transaction (irrespective of the amount) can cost up to $10-20 in gas fees, may take up to a few hours in processing, and will ensure your patience runs thin by the end of it.

On Juno, it’s done in 3 easy steps from a checking account to Solana

1. Log in to your Juno account from your phone or PC

2. Enter the USDC amount you want to bridge to Solana

3. Enter your Solana address and it’s done!

Congratulations! You can now upgrade your crypto experience to Solana faster than you brew your coffee. As crypto goes mainstream, it’ll only increase the need for networks like Solana that can provide fast and low cost transactions while managing the surge in users. 

‍What is Juno?

Juno aims to be an easy to use, trusted and compliant gateway to crypto and web3. It's a digital banking platform built from the ground up that already serves 60,000+ crypto natives and processes over $1 Billion transactions annually.

With a single checking account for your cash and crypto, manage all your money in one place. Earn 10% back on card spends, buy crypto for free, and enjoy zero fee withdrawals with your Juno account.

New to Juno? Sign up today and earn $10 back in USDC when you make your first deposit in crypto.

Solana Ecosystem

Solana makes DeFi fast, seamless, and easy. Its high transaction throughput, ultra low fees and low latency makes new age DeFi applications possible for the first time.

Solana’s high throughput and low fees also makes it a perfect fit for NFTs of all shapes and sizes. 19m NFTs have been minted since August 2021, with $3.4b in primary and secondary sales at an low average cost of $1.50. 

Even with this hyper growth, its early days for Solana. It’s market cap is ~6.5% of Ethereum market cap which is the largest smart contract platform. Here are some beautifully designed applications you can use to get started on Solana:

  1. Phantom is a digital wallet reimagined for DeFi, making it safe and easy to store, send, receive, collect, and swap tokens on the Solana blockchain.

  2. Raydium is an on-chain automated market maker for powering instant swaps in DeFi

  3. Serum brings the speed and convenience of centralized exchanges to DeFi while remaining fully trustless and transparent.

  4. Magic Eden The NFT Marketplace Solana smooth as silk & fast as Solana. 0% listing fee, only 2% transaction fee.

  5. Audius is a fully decentralized music platform. Own the masters & the platform.

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Juno (CapitalJ Inc.) is a financial technology company, not a bank. Banking services provided by Evolve Bank and Trust, Members FDIC. The Juno card is issued by Evolve Bank and Trust, Member FDIC, pursuant to license by Mastercard International.

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