Crypto exchange OKX is adding six new trading pairs for the USDC stablecoin, showing their support for the growing USDC ecosystem.
New Trading Pairs for USDC
Starting on October 14th, OKX will offer trading pairs for USDC with these cryptocurrencies:
- AEVO-USDC
- ATH-USDC
- CATI-USDC
- ETHFI-USDC
- JUP-USDC
- ZETA-USDC
Stablecoin Outlook
This move comes as the outlook for stablecoin issuers isn’t as rosy. Lower interest rates from the Federal Reserve will hurt stablecoin issuers, as they rely heavily on interest payments from government bonds.
Stablecoins like USDC, USDT, FDUSD, PYUSD, and TUSD hold a lot of US Treasury Bills, which are a big part of their reserves. With lower interest rates, these companies will earn less money.
USDC’s Market Cap
Despite this, the total market cap of top stablecoins is still pretty high, at over $172 billion.
This means that the USDC ecosystem is still strong and OKX’s move to add more trading pairs is a good sign for the future of USDC.
