Circle Increases Fees for USDC Redemptions Again

According to Odaily, Circle Internet Financial Ltd. has raised its fees for USDC redemptions for the second time in less than a year. Previously, redeeming USDC through the Circle Mint platform was free and unlimited. However, in February, Circle began charging fees for redemption transactions exceeding $15 million. Now, users wishing to redeem USDC almost instantly and for amounts exceeding $2 million per day will incur additional fees. These fees start at 0.03% per transaction below the threshold and increase in tiers up to 0.1% for redemptions over $15 million. A Circle spokesperson stated, 'The Circle Mint redemption option supports the availability of global instant liquidity—similar to banks and other financial institutions that charge for speed and service.' Traders who are willing to wait two days to receive cash can opt for free USDC redemptions. An informed source disclosed that Circle introduced the new tiered fee structure at the end of September. Customers have expressed concerns to Circle, fearing that the fee increase might reduce USDC's attractiveness in transactions.