USDC Trading Pairs

USDC Swaps on RFQ give platforms a way to offer digital asset trading quoted directly in USDC on the Ethereum network, so end users can buy and sell crypto out of their USDC balance without a separate USDC to USD conversion. The customer-facing quote, trade, and balance movement are all denominated in USDC. For supported instruments, see here.

Use Cases

• USDC-native platforms that hold USDC on behalf of end users and want to trade without converting to USD first.
• Stablecoin wallets and neobanks offering crypto buy/sell against a USDC balance.
• Cross-border and payments flows where USDC is the working currency.
• Platforms reducing conversion friction, eliminating the doubled fees and slippage of a USDC to USD to asset round trip.

Flow

1. The platform requests a quote for a <BASE>/USDC.ETH pair (buy or sell). The quote returns denominated in USDC.
2. The platform executes the quote. Credit is checked natively against the customer's USDC.ETH balance
3. The trade settles in the same manner as a regular fiat denominated pair

Key Features

• USDC-native trading. End users trade directly from their USDC balance, with no USDC to USD conversion step.
• No LP onboarding per pair. Liquidity providers are unaffected by the addition of USDC-quoted pairs.
• USD-par reporting. Each USDC-pair trade is recorded at 1:1 par for compliance, reporting, and TaxBit tax purposes.
• Buy and sell support across the supported underlyings, in both US and EU regions.