TechFlow news, October 30 — According to The Block, Circle announced an increase in redemption fees for its USDC stablecoin. This move aims to address reduced returns on cash reserves held by stablecoin operators due to the Federal Reserve's interest rate cuts.
Currently, Circle charges fees for USDC redemptions exceeding $15 million and imposes additional fees for fast redemptions surpassing $2 million per day. These fees range from 0.03% to a maximum of 0.1% per transaction. The fee adjustment comes as the company prepares for a potential public listing.
Amid increasingly intense competition in the stablecoin market, Circle continues to face pressure from smaller, more agile startups, even as Tether dominates with over 70% market share.
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