How Sedl works: 4 steps
On the surface, Sedl works like many other apps that allow you to send and receive money.
But the process underneath is very unique — and this is what makes Sedl faster, more secure and more global than many other methods.
1. Choose a recipient and amount, then send!
Sedl users are identified by email address. Your Sedl account is linked to your bank account.
2. Sedl converts the funds to USDC
USDC is a type of cryptocurrency called a “stablecoin.” This means its value is stable, because it’s linked to the value of U.S. dollars.
- Converting to USDC allows us to take advantage of the speed, security, and other benefits of blockchain technology. It also allows Sedl to work across borders. Since USDC is a stablecoin, it’s simple and reliable to convert it to whatever currency you use.
why we do this
3. The recipient receives the amount in their Sedl wallet
The transaction takes seconds and is automatically recorded on our blockchain ledger. The ledger documents every Sedl transaction as a way of protecting against fraud and theft.
How we keep our fees so low
No onboarding fees that are common on many crypto exchanges
No bank or wire fees that make Western Union and similar options so expensive
The recipient has two options:
Keep the funds in their Sedl wallet.
Sedl stores the money as USDC coins.
Deposit the funds into their bank account.
Sedl converts the USDC coins into the recipient’s chosen currency and deposits the full amount in their bank account. Users can set the app to do this automatically if they wish.
Why this makes Sedl better than the rest
Fast, secure transfers on the blockchain
Fast settlements with connected bank accounts
User-friendly interface and contact list
Super-low fees, even on global transfers