OKX launches commission-free conversion between USDC and the U.S. dollar
Circle and OKX launch zero-fee USDC to USD conversions
Stablecoin issuer Circle and crypto exchange OKX have partnered to enable zero-fee, one-to-one conversions between USDC and the U.S. dollar, significantly improving liquidity and reducing friction for stablecoin users.
The integration allows OKX customers to directly convert between USD and USDC without paying trading fees, enhancing both retail and institutional accessibility, reports Cointelegraph.
“Users can now directly convert USD to USDC and back within the OKX platform, offering a seamless and transparent experience,” said Kash Razzaghi, Circle’s chief business officer. This development addresses long-standing inefficiencies in stablecoin usage, particularly those tied to transaction costs and banking intermediaries. The update builds on OKX’s infrastructure of banking partnerships and aims to make fiat-to-stablecoin conversions more accessible across 12 blockchain networks.
Infrastructure enhancements reduce friction and expand access
According to Jason Lau, OKX’s chief innovation officer, the Circle partnership solves persistent challenges in fiat-to-stablecoin swaps by introducing deeper liquidity and frictionless conversion mechanisms. Traditionally, users experienced hurdles such as shallow order books, high fees, and slow execution when exchanging stablecoins for fiat currencies.
Lau explained that prior to this collaboration, swapping USD and USDC was treated like any other asset trade—now, the experience is closer to a direct fiat transaction. OKX supports 12 of USDC’s 23 networks, including major ones like Ethereum, Solana, Arbitrum, and Polygon, expanding reach for users who need flexibility across chains. The new infrastructure ensures smoother operations for trading, sending, and holding USDC within the OKX ecosystem.
OKX bolsters stablecoin ecosystem while maintaining USDT support
To implement this fiat-stablecoin conversion feature, OKX has leveraged banking and payment partnerships with major institutions such as Standard Chartered, DBS, and Bank Frick, as well as integrations with PayPal and Apple Pay. The move is part of OKX’s broader strategy to improve access to regulated digital assets for its 60 million global users. While boosting liquidity for USDC, OKX has not neglected USDT, the dominant stablecoin by trading volume, continuing to offer deep liquidity for trading pairs like ETH/USDT, which alone sees $330 million in daily volume.
The company stated it is committed to working with multiple stablecoin issuers to ensure a robust and diversified stablecoin market. This strategic partnership with Circle positions OKX to offer one of the most user-friendly and institutionally capable stablecoin trading environments in the crypto sector.
Recently we wrote that former BitMEX CEO Arthur Hayes warned that the U.S. Treasury faces mounting challenges in its efforts to finance the national debt.
