USDC is issued by Circle, a US-regulated company, and it's the default stablecoin on Coinbase — the exchange most Nigerian-Americans already use. When your person abroad says 'I have USDC, not USDT', the answer is: perfect, send it. Monica supports USDC on ERC-20, Solana, BEP-20 and Polygon.
Identical to USDT: verify once, copy your USDC address for the network the sender uses, and share it. On arrival, convert at the live dollar rate and withdraw. Under 60 seconds from tap to bank alert.
The naira you receive is the same — both peg to the dollar and both convert at live market rates. Differences only matter to the sender: USDC is cheaper to send from Coinbase (free on some networks), USDT has more network options. Accept both; let the sender pick.
Fees shown are typical all-in costs including exchange-rate markup — the honest number, not the advertised one.
| Route | Fees on $500 | Typical timing | What the receiver actually gets |
|---|---|---|---|
| USDT → Monica.cash | 0% platform fee — only the network fee (~$1 on TRC-20) | Seconds to a few minutes on-chain, then under 60 seconds to the bank | ≈ ₦810,000 at the live market rate, full amount, any Nigerian bank |
| Western Union | 5%–8% + exchange-rate markup | Minutes to days | Agent or bank payout at a marked-down rate |
| MoneyGram | 4%–7% + rate markup | Minutes to days | Cash pickup limits apply ($200 per IMTO payout rules) |
| Bank wire (SWIFT) | $25–$50 flat + correspondent fees | 2–5 business days | Lands in a domiciliary account at the official rate |
| Fintech remitters (Remitly, WorldRemit, etc.) | 1%–4% + rate spread | Minutes to 2 days | Rate is set by the app, usually below the open market |
Your family member (or you, on the Nigeria side) downloads Monica from Google Play or the App Store and completes KYC — BVN or NIN plus a selfie, about 4 minutes.
Inside the app, choose USDT and pick a network — TRC-20 is the popular choice for remittance because the network fee is about $1 and confirmation takes seconds to a couple of minutes.
From any exchange or wallet abroad — Coinbase, Kraken, Binance, Bybit, or a self-custody wallet — send USDT to the Monica address. The blockchain doesn't care about borders, weekends, or banking hours.
Once the deposit confirms on-chain, naira credits the Monica balance at the live rate. Bank withdrawal completes in under 60 seconds — Opay, Kuda, GTBank, Zenith, all Nigerian banks.
"My brother receives it on Monica and withdraws straight to Kuda. Under a minute after the USDT confirms. Every single time."
"Sent $500 from Italy on a Sunday night. My brother confirmed the Moniepoint alert before we finished the phone call."
"My parents are retired and not tech people. They only see the UBA alert — I handle the USDT side from Germany. Simple."
"No more asking my cousin to queue for cash pickup. I send USDT, she taps withdraw, and the money is in her First Bank in minutes."
ERC-20, Solana, BEP-20, and Base. Solana and Polygon have the lowest network fees — often under $0.10.
USDC is fully reserved and attested monthly by a US-regulated issuer; it has held its peg throughout its existence. For remittance purposes, treat USDT and USDC as equivalent.
Buy USDC on Coinbase (often fee-free), withdraw to your Monica USDC address on a supported network, done. Coinbase withdrawals on Solana or Base-to-supported-networks are near-instant.
The live USDC/NGN market rate — effectively the same dollar rate as USDT — with 0% platform fee.
Yes. Both wallets sit in the same Monica app with separate addresses. Many receivers share both and let each sender use whichever is cheaper on their side.
0% platform fees on the Nigeria side. Live market rate. Every Nigerian bank. Set the route up once — use it for years.
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