Journalist
Tanzeel Akhtar
Journalist
Tanzeel Akhtar
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Circle Internet Group, Inc. (NYSE: CRCL) and crypto exchange OKX have announced a partnership aimed at expanding access to and liquidity for the USDC stablecoin.
In a press release the firm explains the collaboration will introduce 1:1 conversions between USD and USDC on the OKX platform, improving trading efficiency and accessibility for the platform’s more than 60 million global users.
Conversions for Global Users
A key component of the partnership is the integration of direct 1:1 USD-to-USDC and USDC-to-USD conversions on OKX’s trading platform.
According to Circle this development will make it easier for users to on-ramp and off-ramp between traditional and digital currencies, particularly in regions where banking access to stablecoins has historically been limited.
OKX will work closely with Circle’s banking partners to streamline fiat transfers, enabling users to fund their accounts or withdraw in USDC with greater ease.
The update is expected to enhance trading flexibility, payments functionality, and overall user experience across OKX’s suite of financial products and services.
Supporting USDC Adoption
In addition to the technical integration, Circle and OKX plan to collaborate on educational initiatives and community engagement.
These programs will aim to raise awareness about the utility of USDC as a stable, regulated digital dollar and help demystify stablecoins for both institutional and retail audiences.
“Demand for USDC continues from businesses and individuals eager to adopt this new form of high-utility and internet-based money,” said Circle CEO Jeremy Allaire.
He notes that OKX’s global user base and active role in Web3 innovation make it a strategic partner for extending USDC’s reach.
Liquidity and Financial Inclusion
The move reflects a broader industry trend toward increasing the accessibility of stablecoins and bridging the gap between fiat and crypto.
OKX CEO Star Xu emphasized that the partnership will bring “increased liquidity and access for customers to a market-leading stablecoin,” and represents a step forward in making digital finance more inclusive and efficient.
Circle Moves to Launch a National Trust Bank
Circle is also taking its next big step into regulated finance. The firm has filed an application to become a national trust bank in the United States.
If approved by the Office of the Comptroller of the Currency, the new entity, called First National Digital Currency Bank, N.A., would allow Circle to act as a custodian for its reserves and offer secure digital asset services to institutional clients.
However, unlike traditional banks, it would not be permitted to accept cash deposits or issue loans.
