Circle, the issuer of USDC stablecoin, has partnered with crypto exchange OKX to introduce zero-fee, 1:1 conversions between USDC and USD directly on OKX's platform. This integration eliminates traditional friction points like order book inefficiencies and trading fees, enabling seamless swaps for OKX's 60 million global users across retail and institutional segments.
The service supports 12 of 23 USDC networks including Ethereum, Solana, Arbitrum, Optimism, Base, and Aptos. Jeremy Allaire, Circle's CEO, emphasized growing demand for "high-utility internet-based money", noting this solution treats stablecoin conversions as money movement rather than trading. The partnership also integrates with banking providers and payment systems like Apple Pay and PayPal, streamlining fiat on/off-ramps.
This development builds on Circle's recent Gateway initiative for cross-chain USDC liquidity, allowing users to access funds across supported blockchains without manual bridging. By enabling instant, cost-free conversions, the collaboration aims to enhance USDC's role in trading, payments, and treasury management while setting new standards for stablecoin-fiat interoperability.