Stablecoin issuer Circle has partnered with major cryptocurrency exchange OKX to deepen liquidity to convert its USD to the Stablecoin using USD.
OKX is launching Zero-Fee USDC (USDCThe companies announced in a joint statement on Wednesday that the conversion with USD is part of a new partnership with Circle.
“The most important update is that users can now convert USD directly to USDC and return to the OKX platform, providing a seamless and transparent experience,” Circle Chief Business Officer Kash Razzaghi told Cointelegraph.
OKX Chief Innovation Officer Jason Lau said the upgraded USDC Liquidity Built on OKX’s deep banking partnership and compliance approach, this method allows users to exchange USD and Stable “There is no friction or expense for the first time.”
Exchange stable friction and dollar
although Stable adoption rate increasesthere is still a lot of friction Online transaction fees With the bank to the exchange middleman, according to To Ashley Lannquist, former digital financing analyst at the International Monetary Fund.
In 23 networks support Written by USDC, OKX has 12 networks including Ethereum, X-layer, Aptos, inotum One, Avalanche C-chain, Basics, Optimistic, Optimistic, Polygons, Polygons (USDC.E), Solana, Sui, Sui and Okt chains.
While not affecting network fees, the partnership between Circle and OKX is designed to eliminate some infrastructure challenges.
“Until this partnership with the circle, there is always some friction when it comes to exchanging between stablecoins and the dollar,” Liu said.
He mentioned issues related to order depth, transaction fees and product design. “Users will see the exchange between USD and Stablecoins as they do with other asset exchanges,” he said.
“Now, through this partnership with Circle, we have enabled the 1:1 USD-USDC conversion and integrated with banking partners to simplify fiat in-of Ramps and offarm so that both retail and institutional users can benefit better.”
OKX’s Banking Partnership
To provide deeper USDC liquidity to its 60 million customers worldwide, OKX has always been Work with multiple partners Cross-bank and payment networks.
“OKX’s main ramp solutions currently revolve around major partners such as Standard Chartered Bank, DBS, Bank Frick and global payment solutions such as Apple Pay and PayPal,” said Law.
Lau mentioned that the upgraded USDC liquidity will be used for “any user who has access to USD and USDC” in his OKX account.
Related: Tether USDT Challenges Circle’s Leading in Bitpay Payment in 2025
Circle’s Razzaghi mentioned that the new conversion feature will be available in multiple OKX products and services, involving transactions, sending and holding USDC.
OKX supports deep liquidity of Tether USDT
While expanding USDC liquidity, OKX has not overlooked its competitor Stablecoins, including Tether USDT (USDT), the largest stablecoin calculated by market value.
“Okx has long supported the deep liquidity and channels of stabilizers, especially USDT, which remains the most used and traded Stablecoin on the platform, which proves that ETH/USDT (e.g. ETH/USDT) has over $330 million a day,” Okx’s Lau told Cointelegraph.
He added that in addition to USDT, OKX continues to work with multiple Stablecoin issuers to improve liquidity.
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