Circle, the issuer of the USDC stablecoin, has announced a partnership with crypto exchange OKX to roll out zero-fee conversions between the stablecoin and the US dollar. This initiative aims to streamline the processes of transferring money into cryptocurrency.
Circle and OKX Integration
OKX users can now convert USD to USDC and vice versa on the platform without paying fees. This is the first such offering from both companies.
Comments from Company Leaders
Kash Razzaghi, Chief Business Officer of Circle, described the new offering as a 'seamless and transparent on- and off-ramping experience.' Jason Lau, Chief Innovation Officer of OKX, added that the upgrade builds on the exchange's banking ties, allowing users to easily swap between fiat and stablecoins.
Expansion of USDC Capabilities
Despite the support for USDC, OKX is not ignoring its biggest competitor, Tether. A company spokesperson confirmed that talks are underway with Tether, whose USDT remains the most traded stablecoin on the exchange.
The partnership between Circle and OKX opens up new opportunities for users, enabling easy and cost-free conversions between USD and USDC, thus simplifying interactions with cryptocurrencies.
