USDC-Quoted Trading on RFQ
Release Details
Release Date: August 31st, 2026
Release Type
New feature
Summary
Platforms can now request and accept RFQ quotes denominated in USDC.ETH (USDC on Ethereum) for supported crypto base assets. This lets end users trade directly out of their USDC balances, with no explicit USDC-to-USD conversion step before each trade.
Each request returns a single, all-in USDC quote: platforms request, accept, and settle entirely in USDC. End users fund and receive in USDC with no FX step on the customer side. Because USDC is held in customer accounts, these flows are treated as direct regardless of the platform's liquidity model.
USDC-quoted pairs are live in the US for popular assets (BTC/USDC.ETH, ETH/USDC.ETH, and more), with 16 supported instruments at launch. The capability meets growing platform and end-user demand to transact in stablecoins in addition to fiat, removes the friction of a USDC-to-USD conversion before every trade, and lets platforms serve stablecoin-native users out of balances they already hold.
Optional action: This is available to any platform on a novated or platform-direct liquidity model whose end users hold USDC on Ethereum. No integration changes are required for platforms that do not need USDC-quoted pairs.
Supported Instruments (16 to start)
- BTC/USDC.ETH
- ETH/USDC.ETH
- SOL/USDC.ETH
- XRP/USDC.ETH
- DOGE/USDC.ETH
- ADA/USDC.ETH
- Plus 10 additional instruments (see Supported Instruments)
Endpoints Impacted
Platforms trade USDC-quoted pairs through the standard RFQ endpoints, passing a USDC-quoted instrument (for example, BTC/USDC.ETH):
POST /liquidity/rfq(request an RFQ quote)POST /liquidity/execute(execute an RFQ quote)