Update
Circle Match Enables Hourly Auctions for USDC Minting and Redemption
Circle has introduced a new service called Circle Match, which allows institutional USDC transactions through hourly batch auctions. These auctions pair USDC mint orders with redemption orders, offering rebates to minters and capped fees to redeemers. The service went live on October 22, 2026, and operates on a prefunded model where participants must deposit assets before the auction clears. The process ensures USDC stays pegged 1:1 to the US dollar, and the auction determines the fee, not the exchange rate.