USDC Conversion Fees Based on Transaction Amount
Circle, the issuer of USDC, has announced that it will introduce fees for institutional clients making USDC to USD conversions. The fees will be based on the transaction amount and will range from 0.1% to 0.2%. Conversions over $75 million within a rolling 30-day period will be subject to fees.
Exemptions for Coinbase Prime Clients and Liquidity Program Members
Coinbase Prime clients with over $500 million in assets or holding an average of $100 million in USD/USDC per calendar month will be exempt from the conversion fees. Additionally, members of the Coinbase Exchange Liquidity Program who qualify for Tier 1 or Tier 2 will also be exempt.
Coinbase’s Commitment to Innovation
Coinbase spokesperson stated that the company is committed to innovating its product offerings and listening to user feedback. The goal is to provide a premium experience for customers while driving business goals.
Hot Take: Circle Implements Fees for USDC to USD Conversions
Circle has introduced fees for institutional clients converting USDC to USD. The fees are based on transaction amounts and range from 0.1% to 0.2%. However, Coinbase Prime clients with significant assets and members of the Coinbase Exchange Liquidity Program can enjoy exemptions from these fees. Coinbase continues its commitment to innovation and delivering a premium user experience while achieving business objectives.
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