OKX adds support for new USDC spot trading pairs

• OKX has introduced support for multiple USDC spot trading pairs
• They include ZK, LITH, ZERO, ZRO, XNO, ONDO and LQTY

Crypto exchange OKX has announced spot trading support for multiple tokens against the stablecoin USDC.

According to an announcement, OKX has added USDC trading pairs for ZK, LITH, ZERO, ZRO, XNO, ONDO and LQTY among other tokens. Trading for these USDC pairs will begin on August 29, 2024, with tokens added between 6am and 8:30 am UTC.

“To support the growth of the USDC ecosystem and meet our users’ diverse trading needs, OKX is introducing the following USDC trading pairs in our spot trading between 6:00 am and 8:30 am UTC on August 29, 2024: CFG/USDC, XNO/USDC, LITH/USDC, ZK/USDC, LQTY/USDC, ZERO/USDC, ZRO/USDC, ONDO/USDC and G/USDC,” OKX notified its users.

ZKsync, Ondo and LayerZero are among the notable altcoin addition to the USDC spot trading market on OKX. Earlier this month, the exchange added USDC trading pairs for Basic Attention Token, Balancer, Moonriver, Ampleforth Governance, wrapped Bitcoin and Alchemix among others.

The exchange also recently added USDC, USDT, Bitcoin and Ethereum trading pairs against the Australian dollar (AUD).

USDC stablecoin

USDC is a US dollar-pegged stablecoin redeemable 1:1 for USD and has its reserves custody with leading financial institutions.

According to USDC issuer Circle, the stablecoin’s current circulating supply is $34.6 billion, while reserves stand at $34.8 billion.

In terms of reserves, there’s $4.2 billion in cash and $30.6 billion in the Circle Reserve Fund, a SEC-registered US government money market fund. The reserve fund’s portfolio includes short-dated US Treasuries, overnight US Treasury repurchase agreements as well as cash.