OKX to open deposits and withdrawals for USDC-Base
OKX to open deposits and withdrawals for USDC-Base
OKX has announced its decision to expand support for the USD Coin on the Base network, a development that could mark a significant shift in the exchange's trading landscape.
Base, an Ethereum Layer 2 chain developed by Coinbase, has been gaining momentum as a preferred network for decentralized applications (dApps). It offers a safe, low-cost, developer-friendly way to build on-chain.
The exchange notes that existing USDC_BASE assets in user accounts will be automatically converted to USDC.
- USDC-Base deposits will open at 7:00 am (UTC) on August 26, 2024.
- USDC-Base withdrawals will open at 9:00 am (UTC) on August 26, 2024.
The update for USDC-Base capabilities is part of a broader trend where exchanges are looking to diversify the assets they maintain to meet user needs.
For OKX, which has been expanding its services globally, the enhanced support for USDC-Base is in line with its goal to build a more versatile and seamless trading environment. USDC, being a regulated stablecoin pegged to the US dollar, provides a stable store of value, which is increasingly sought after in the volatile crypto markets.
Founded in 2017, OKX is a global cryptocurrency spot and derivatives exchange and the second biggest crypto exchange by trading volume. Trusted by more than 50 million users in over 180 countries, OKX provides a robust platform that empowers every individual to explore the world of crypto.
