Accounts are typically verified within minutes. During periods of increased onboarding demand, this may take up to 7 days.
If you are applying for a business account, verification will take 3-5 buss days after all info has been submitted.
Your deposits are instantly converted to US Dollar Coin (USDC). 1 USDC = $1 Dollar. We build on top of USDC technology that enables higher interest rates, faster transfers, and no fees.
You can withdraw your funds at any time from the dashboard home screen. Withdrawals take 1-3 business days to arrive in your bank account. In practice, funds often arrive by the next business day.
While many institutions make money from charging account fees, we do not. Instead, Crescent takes a small percentage of the earnings from our lending partners, and passes the rest on to you. This means our Crescent members get access to 100x higher interest rates without fees. Or more simply put — we earn, when you earn.
Funds allocated to our 1% yield option are FDIC insured up to $3.5 million.
Funds allocated to our 4% USDC-backed yield option are not FDIC or SIPC insured, as loans are conducted outside of bank and brokerage accounts. All loans are to well-vetted institutions with 150% collateral and strict credit requirements. Crescent’s lending partners maintain coverage and collateral on all actively lent assets (similar to the securities lending industry).
Safety and security is our top priority for customers. Our team works hard to make sure all information and transactions are as secure as possible.
At the account level, we encrypt all user data using the AES-256 standard and protect accounts at the highest level with a personal PIN number and two-factor authentication (2FA). This ensures that access to your account is as secure as other finance and payment apps such as Venmo or Robinhood. For additional user safety, we stick to stringent KYC standards to avoid fraudulent users and regularly audit activity on the app to flag suspicious behavior.
On the account side, we manage all bank connections securely with Plaid, the industry leader in bank integrations. Whenever you add a bank account or card to Crescent, Plaid facilitates the connection through its secure servers. This is the same banking integration used by hundreds of financial services including Venmo and American Express.
Annual Percentage Yield (APY) is the amount of interest you earn per year by simply depositing funds on Crescent.
As a regulated financial company, Crescent must comply with all Know Your Customer (KYC) and Anti-Money Laundering (AML) best practices. All data submitted during this process is processed securely.
Crescent accrues interest every second and automatically retains it for compounding. Interest paid is categorized as ordinary income. Monthly account statements are sent via email and are available on the dashboard. Crescent issues 1099s to all clients at the end of each year.
We currently have two yield opportunities:
Our 4% APY USDC-backed yield option is currently only available for accredited investors and institutions. Our 1% APY FDIC Insured yield option is available to all clients. We are actively working to make all of our products accessible to non-accredited individuals and businesses.
You can fund your account through ACH, wire transfer, or USDC deposits. Crescent does not charge wire transfer fees.
At Crescent, your account security is our top priority. We work with each of our clients to ensure your unique security and compliance needs are met, especially when it comes to deposits and withdrawals. In addition, our internal systems have passed third-party penetration testing to ensure your data is safe.
Crescent is a cash management platform that supercharges businesses with smart automations, integrations, and one-click high-yield earnings.
Crescent 4% USDC-Backed Yield is available only to verified accredited investors. Crescent is not an FDIC insured financial institution. Crescent is a registered Money Services Business. Your funds with Crescent are not insured by FDIC, Crescent, or any other entity. There are risks associated with this product, including loss of the total amount transferred via Crescent.
Need support or have any questions? Contact us:
support@crescent.app
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