Wire Deposits will be used to purchase Stablecoin. Stablecoin will have a “1 to 1” value relationship with the US Dollar. Currently the default Stablecoin for BlockFi Wire purchases is GUSD (a stablecoin created and maintained by Gemini). Any funds transferred will represent a purchase of stablecoin ($1 USD will buy 1 GUSD).
After a stablecoin purchase is reflected in your BlockFi account in GUSD, you will immediately be eligible to Trade these funds into any BlockFi supported cryptocurrency.