Stablecoin

USDC

Reserve

OKX, a leading cryptocurrency exchange, has announced the launch of six new USDC trading pairs, further expanding the USDC ecosystem and providing users with more trading options. The exchange’s move is aimed at increasing USDC’s market presence while meeting the needs of its growing user base. These new pairs will go live on October 14, 2024. 
<h2 id="okx-announces-six-new-usdc-trading-pairs">OKX Announces Six New USDC Trading Pairs</h2> 
On October 14, 2024, from 10:00 to 10:30 PM (UK time), OKX will activate six new spot trading pairs: AEVO-USDC, ATH-USDC, CATI-USDC, ETHFI-USDC, JUP-USDC, and ZETA-USDC. With these new pairs, OKX aims to boost USDC trading volume and give its users more opportunities to diversify their portfolios and engage in flexible trading. As a result, the use of USDC is expected to grow, making cross-asset trading easier. 
These new trading pairs are expected to open up more opportunities for investors, allowing them to diversify their portfolios and engage in more flexible trades with USDC. 
<h2 id="stablecoin-issuers-face-challenges-amid-rate-cuts">Stablecoin Issuers Face Challenges Amid Rate Cuts</h2> 
While OKX continues to support USDC, stablecoin issuers face some challenges. A recent report highlighted how the Federal Reserve’s interest rate cuts could pressure companies that issue stablecoins, such as USDC and Tether. As interest rates fall, the income from U.S. Treasury bonds— a major source of revenue for these companies— will also decline. 
This reliance on U.S. Treasury bonds directly affects the revenue of stablecoin issuers, so any change in interest rates could have a significant impact. To adapt, many of these companies, including USDC, are developing strategies to mitigate these effects. <a href="https://thebitjournal.com/surprise-weekend-listing-by-okx-big-expectations-for-x-empire-altcoin/" target="_blank" rel="noopener">OKX</a> is also monitoring the market closely, making strategic moves to align with these changes. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-50160" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/on-USDC-as-a-stablecoin-showing-its-connection-to-the-US-dollar.-The-image-features-a-large-USDC-coin-in-the-center-with-a-s.webp" alt="OKX Expands USDC Offerings: Six New Trading Pairs Announced! = The Bit Journal" width="1792" height="1024" title="OKX Expands USDC Offerings: Six New Trading Pairs Announced! 31"> 
<h2 id="interest-rate-cuts-lead-to-revenue-losses">Interest Rate Cuts Lead to Revenue Losses</h2> 
According to a report from CCData, the top five stablecoin issuers collectively hold $125 billion worth of U.S. Treasury bonds, which account for 80% of their reserves. A 50-basis-point rate cut by the Federal Reserve could result in a $625 million loss in annual revenue for these companies. For example, Tether holds $93.2 billion in U.S. Treasury bonds, contributing significantly to the $5.2 billion profit it generated in the first half of 2024. OKX, meanwhile, is exploring alternative trading strategies to minimize the impact of these rate changes. 
Similarly, USDC holds $28.7 billion in U.S. Treasury bonds, a significant part of its financial strength. As interest rates drop, the revenue for the stablecoin market is expected to decline. Other stablecoins like PYUSD and TUSD are also dependent on U.S. Treasury assets for their earnings. As these changes unfold, OKX is positioning itself to offer new trading opportunities to mitigate market fluctuations. 
OKX’s introduction of six new USDC trading pairs is a strategic move to increase USDC usage while navigating the challenges posed by interest rate cuts in the stablecoin market. As stablecoin issuers adapt to this evolving landscape, OKX is taking proactive steps to provide its users with diverse trading opportunities. 
<ul> 
 <li><a href="https://twitter.com/Thebitjournal_" target="_blank" rel="noopener nofollow">https://twitter.com/Thebitjournal_</a></li> 
 <li><a href="https://www.linkedin.com/company/the-bit-journal/" target="_blank" rel="noopener nofollow">https://www.linkedin.com/company/the-bit-journal/</a></li> 
 <li><a href="https://t.me/thebitjournal" target="_blank" rel="noopener nofollow">https://t.me/thebitjournal</a></li> 
</ul> 
Follow us on Twitter and LinkedIn and join our Telegram channel to be instantly informed about&nbsp;breaking&nbsp;news!

OKX Expands USDC Offerings: Six New Trading Pairs Announced!

Table of Contents

The Bit Journal

Other articles published on Oct 14, 2024

Ethereum Braces for 7% Upswing as Solana Eyes Bullish Target Above $163

Michael Saylor Drives MicroStrategy’s Bold Move to Become the Top Bitcoin Bank

Coinbase to Delist Non-Compliant Stablecoins in EU by December

SUI Masih Trending, Apa Kabar Presale Token FXG dari FXGuys?

Don’t Mess With Mining: The True Story of a Real Bitcoin Contributor

Top 10 Low-cap Cryptos That Can Explode 100x By The End of 2024

Join our free newsletter for daily crypto updates!