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Cryptocurrency exchange Coinbase will charge a fee for converting the stablecoin USD Coin (<a href="https://crypto.news/price/usd-coin/" target="_blank" rel="noopener noreferrer nofollow">USDC</a>) into USD.
According to a Jan. 29 post on <a href="https://help.coinbase.com/en/exchange/trading-and-funding/exchange-fees" target="_blank" rel="noopener noreferrer nofollow">the exchange’s website</a>, the cryptocurrency platform will charge a fee when institutional clients make net USDC to USD conversions over $75 million “over a rolling 30-day period.”
Conversions between $75 million and $150 million are subject to a 0.1% fee, while transactions between $150 million and $500 million are subject to a 0.15% fee.
The exchange team emphasized that there will be a 0.2% fee for converting USDC into US dollars worth more than $500 million.
<blockquote class="wp-block-quote">
 “Coinbase Prime clients with over $500 million of assets on the platform or holding on average $100 million in USD/USDC over a calendar month are exempt from USDC Conversion Fees.” <cite>Coinbase team</cite>
</blockquote>
Additionally, <a href="https://crypto.news/tag/coinbase/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> exchange liquidity program participants “who meet Tier 1 or Tier 2 requirements” will have USDC conversion fees waived whenever they meet their monthly requirements.
You might also like: <a href="https://crypto.news/coinbase-increases-usdc-interest-rate-after-sec-confirms-stance-on-stablecoins/" rel="noopener noreferrer nofollow"> Coinbase increases USDC interest rate after SEC confirms stance on stablecoins </a>
In December 2023, Coinbase <a href="https://www.coinbase.com/blog/switch-to-the-trusted-and-reputable-digital-dollar-usdc" target="_blank" rel="noopener noreferrer nofollow">encouraged</a> customers to transfer assets from <a href="https://crypto.news/price/tether/" target="_blank" rel="noopener noreferrer nofollow">USDT</a> to USDC. The platform team explained that the past few weeks’ events have put some stablecoins to the test, while&nbsp;USDC is one of the most reliable and reputable digital dollars, fully backed by high-quality reserves.
However, the exchange has waived USDT to USDC conversion fees for most regions in the Coinbase Simple Trade trading section to make it easier for retail customers to transfer funds.
You might also like: <a href="https://crypto.news/crypto-exchange-coinbase-taps-yellow-card-to-expand-access-to-usdc-in-africa/" rel="noopener noreferrer nofollow"> Crypto exchange Coinbase taps Yellow Card to expand access to USDC in Africa </a>

Coinbase to charge fees on USDC to USD conversions

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