Circle And OKX Join Forces To Enable Instant USD–USDC Conversions For OKX Users
In Brief
Circle and OKX sign a strategic agreement that paves the way for OKX to integrate 1:1 USD-to-USDC and USDC-to-USD conversions on its global trading platform, enhancing trading options for over 60 million OKX customers worldwide.
Issuer of the USDC stablecoin, Circle announced that it has entered into a partnership with the cryptocurrency exchange OKX aimed at enhancing liquidity for USD-to-USDC and USDC-to-USD conversions. This collaboration is intended to improve access to USDC for over 60 million users globally who engage with OKX’s platform.
As a result of this agreement, users will be able to convert USD into USDC and vice versa at a fixed 1:1 ratio across the suite of OKX’s products and services. In addition, the integration will streamline the process of moving funds on and off the platform through aligned banking partners, thereby facilitating smoother use of USDC in trading, payments, and other financial applications.
Jeremy Allaire, Co-founder, Chairman, and CEO of Circle, highlighted that demand for USDC continues to grow among both businesses and individuals seeking to utilize a new, internet-native form of high-utility money. He emphasized that OKX plays a leading role in the digital asset market and noted that by expanding the availability of USDC to OKX’s user base, which exceeds 60 million globally, the initiative contributes to the broader development of digital asset ecosystems. Circle’s CEO also remarked that this collaboration supports the integration of USDC with a diverse array of Web3 wallets and payments applications being developed by OKX.
The partnership with Circle holds importance for OKX due to its role in enhancing liquidity and increasing access to USDC, which he described as a market-leading stablecoin, noted OKX Founder and CEO Star Xu. In his opinion, the collaboration is aimed at improving the overall user experience on the OKX platform, while also advancing the adoption of stablecoins in routine financial activities.
Circle And OKX To Launch Educational Initiatives And Expand USDC Utility
Circle and OKX also intend to jointly implement a range of educational and community-focused initiatives designed to inform users about the advantages and use cases of digital currencies, including USDC.
The collaboration is expected to expand user options, improve the overall trading experience on the platform, and open up broader opportunities for both individual users and businesses to incorporate USDC into their financial activities in a more streamlined manner.
Circle operates as a global financial technology company focused on enabling enterprises of varying sizes to utilize digital currencies and public blockchain infrastructure for purposes including payments, commerce, and financial services. The company is actively developing what it describes as the largest and most widely adopted stablecoin network. Through its regulated affiliates, Circle issues both USDC and EURC.
Recently, Circle announced the rollout of Cross-Chain Transfer Protocol Version 2 (CCTP V2) on the Solana blockchain, a move that extends its stablecoin functionality across a wider range of blockchain networks.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
