TLDR
Circle and OKX launch zero-fee USDC to USD conversions, enhancing liquidity and simplifying crypto on-ramping.
OKX improves USDC liquidity, offering seamless 1:1 swaps with USD, benefiting both retail and institutional users.
Circle and OKX eliminate transaction fees, providing transparent and efficient stablecoin conversions.
OKX strengthens stablecoin offerings with deep liquidity for USDC and USDT, meeting growing demand in the crypto market.
Stablecoin issuer Circle has partnered with major cryptocurrency exchange OKX to streamline the conversion process between its USDC stablecoin and the US dollar. This new partnership introduces a zero-fee conversion model, which simplifies the on- and off-ramping experience for users. With this development, users can now easily convert USD to USDC and back without incurring any transaction fees.
Circle Collaboration with OKX
The partnership between Circle and OKX is designed to enhance liquidity and eliminate previous frictions in stablecoin and USD conversions. Users on the OKX platform now have access to a more seamless, transparent process to swap between USDC and USD.
According to Circle’s chief business officer, Kash Razzaghi, this partnership enables direct conversions without hidden fees, improving the user experience for both retail and institutional clients.
Circle 🤝 @okx
We are partnering with OKX to deepen @USDC liquidity and expand access to 60M+ users worldwide.
Customers will now be able to easily convert between USD and USDC across OKX products and services.
This partnership will provide users with more options, enhance the… pic.twitter.com/QH1VegFI6Y
— Circle (@circle) July 9, 2025
Jason Lau, OKX’s chief innovation officer, explained that this partnership leverages the exchange’s deep banking relationships and strong compliance measures. He stated that users can now perform USD to USDC swaps without the usual friction associated with network transaction fees and bank-to-exchange intermediation. Lau emphasized that the update would benefit all users, making stablecoin liquidity easier to access and more efficient.
Enhancing Stablecoin Liquidity
With the new feature, OKX has worked to improve the liquidity for USDC, which Circle has long established as one of the top stablecoins in the market. USDC can now be swapped with USD at a 1:1 ratio, making it easier for users to convert between traditional fiat and digital currency.
This marks a significant step in reducing previous challenges, such as transaction fees and issues with the order book depth that users often faced when converting stablecoins to fiat.
This new update builds upon OKX’s existing banking partnerships, which include Standard Chartered Bank, DBS, and Bank Frick. These partnerships give OKX the infrastructure needed to support large volumes of conversions. Lau mentioned that this upgrade would be available across various OKX products and services, which include trading, sending, and holding USDC.
Competitive Positioning in the Stablecoin Market
While the collaboration between Circle and OKX aims to streamline USDC liquidity, OKX has not overlooked other stablecoins, particularly Tether’s USDT.
As the largest stablecoin by market cap, USDT remains a key player on the platform. OKX’s commitment to deep liquidity for USDT is demonstrated by the $330 million in daily trading volume on pairs like ETH/USDT.
Despite the focus on USDC, OKX continues to work with other stablecoin issuers to maintain a competitive edge. The exchange’s effort to enhance liquidity for USDT alongside USDC is a response to the growing demand for various stablecoins within the crypto ecosystem. This ensures that users have access to a broad range of stablecoins for their trading and investment needs.
Circle OKX Move Simplifying Fiat and Crypto Integration
OKX’s partnership with Circle represents a broader trend towards simplifying the integration of fiat and cryptocurrencies. By removing fees and addressing infrastructure challenges, the collaboration aims to make it easier for users to move between traditional currencies and digital assets.
This solution not only benefits retail users but also provides institutional players with a smoother experience when managing their stablecoin transactions.
Circle’s collaboration with OKX is an important move in the ongoing evolution of cryptocurrency platforms. By focusing on eliminating friction in the fiat-to-crypto process, both companies are positioning themselves at the forefront of stablecoin adoption, further bridging the gap between the traditional financial system and the growing crypto economy.
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