Circle (NYSE: CRCL) has partnered with crypto exchange OKX to make it easier for people to move money between US dollars and USDC. The aim is to give OKX’s 60 million+ users smoother access to the stablecoin.
As a result of this partnership, users will be able to convert USD to USDC and back, at a 1:1 rate across all OKX products. Both companies will also work with shared banking partners to simplify deposits and withdrawals so people can use USDC conveniently for trading, payments, and everyday transactions.
Jeremy Allaire, Co-founder, Chairman, and CEO of Circle, shared, “Demand for USDC continues from businesses and individuals eager to adopt this new form of high-utility and internet-based money.”
He added that OKX is a leading player in the digital asset space, and by expanding USDC’s reach to over 60 million OKX users worldwide, they would help in driving growth in the digital asset market. He further shared that this also supports integration with OKX’s wide range of innovative Web3 wallet and payment applications.
OKX Founder and CEO Star Xu added, “Our partnership with Circle is important because it delivers increased liquidity and access for customers to a market-leading stablecoin in USDC. By working together, we’re further improving the user experience across our platform while accelerating the adoption of stablecoins in everyday finance.”
In addition to boosting liquidity, Circle and OKX will also collaborate on educational and community initiatives to help users understand the benefits of digital currencies like USDC. At the close of trading, Circle’s stock (CRCL) was down 1.28% at $204.81. In pre-market hours, it dipped slightly further to $204.00.
Also Read: Circle Unveils ‘Gateway’ for Seamless Cross-Chain USDC Transfers
