Circle launches hourly USDC Match auctions for Mint customers
- —Auctions run hourly on prefunded orders via the Mint interface and API
- —Minters set a minimum rebate; redeemers set a maximum fee
- —Best-priced orders fill first, with clearing-fee orders allocated pro rata
- —Standard USDC redemptions stay free; Express carries a 5 bps fee
Why it matters: The service reduces reliance on OTC desks and exchanges for large USDC flows and reshapes stablecoin liquidity economics.
Source: Blockchain.News