Circle, OKX Launch Zero-Fee USD–USDC Conversions for 60 Million Users

Circle Internet Financial, the issuer of USD Coin (USDC), said it has entered a strategic partnership with cryptocurrency exchange OKX aimed at expanding USDC’s liquidity and reach. The agreement, announced 9 July, will give OKX’s more than 60 million global customers the ability to convert seamlessly between U.S. dollars and USDC on a one-to-one basis across the exchange’s suite of products.

The companies said the conversions will be offered without fees, a move designed to lower transaction costs and encourage broader use of the stablecoin for trading, payments and settlement. OKX plans to integrate the zero-fee service into its spot, margin and Web3 wallet platforms, while Circle expects deeper dollar on-ramps to bolster confidence in USDC’s dollar backing.

The tie-up underscores intensifying competition among stablecoin issuers to secure major exchange partnerships and user adoption as regulators scrutinize the sector’s transparency and risk controls.

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