Circle and OKX launch zero-fee USDC conversions to US dollar

Circle and OKX have launched zero-fee conversions between Circle’s USDC stablecoin and the US dollar as part of a new partnership aimed at enhancing liquidity and user experience for stablecoin-to-fiat conversions.

This update allows users to directly convert USD to USDC and back within the OKX platform without any fees, providing a seamless and transparent on- and off-ramping process.

OKX’s Chief Innovation Officer, Jason Lau, highlighted that this upgrade builds on OKX’s strong banking partnerships and compliance framework, enabling users to convert USD and USDC “without any friction or fees, for the first time”.

This initiative complements OKX’s existing support for USDC across 12 blockchain networks, including Ethereum, Solana, and others, although network transaction fees still apply separately. The zero-fee conversion specifically focuses on the fiat-to-stablecoin and stablecoin-to-fiat segments of transactions, eliminating infrastructure challenges. and improving liquidity.

This collaboration enables fee-free, 1:1 USD-to-USDC conversions on the OKX platform, streamlining the process for both retail and institutional users and enhancing the usability of USDC as a stable digital dollar.

It's me, @justmythoughts, an ordinary Hive user looking to make the most of the platform. I will appreciate your support. Follow me for more. Thanks, Gracias :)

Posted Using INLEO