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The Vectorize Image function in the Design Editoror in and Traceallows you to turn a Rastor (Image) into a Vector (Cuttable Format) to apply as a Deboss, Pen or cut in Vinyl.

This is simply a Raster to Vector Conversion.

Note that the Vectorizing utility in Trace has additional parameters that can be adjusted if you need more control of how an image is Vectorized.