Circle Internet Group has entered into a strategic collaboration with OKX to deepen liquidity for USD-to-USDC and USDC-to-USD conversions across the world.
This partnership is set to provide customers with the ability to convert between USD and USDC and back on a 1:1 basis across OKX products and services. Also, the collaboration will see OKX simplifying on- and off-ramping through mutual banking partners, optimising how customers use USDC for trading and payments, among others.
Additionally, Circle and OKX plan to work on educational and community engagement programmes to support users in learning more about the benefits of digital currencies such as USDC. The collaboration is set to offer users more options while also improving the trading experience and creating new opportunities for individuals and businesses globally to leverage USDC.
Furthermore, commenting on the news, representatives from Circle mentioned that, as demand for USDC continues from businesses and individuals wanting to adopt this new form of internet-based money, the alliance with OKX aims to deliver on this demand and serve the needs of users worldwide. By extending USDC’s reach to OKX’s global users, the two companies plan to drive growth in digital asset markets while building on and integrating with the wide range of Web3 wallet and payment applications that OKX offers.
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Shortly before it collaborated with OKX, Circle partnered with Ivy, aiming to enable the latter’s customers to access, convert, and transact with stablecoins in real-time. Leveraging Ivy’s API, crypto platforms, trading apps, and global ecommerce merchants could accept instant bank transfers and manual bank payments, settle funds to local collection accounts in Europe in multiple currencies, as well as convert money into EURC and USDC. Also, customers could issue payouts in fiat or stablecoins.
Moreover, Ivy incorporated Circle’s USDC and EURC stablecoins into its payment infrastructure, with the move allowing users to settle transactions through real-time bank payment rails.
