CryptoSlate
Circle will remove its separate net-redemption overage fee for USDC and EURC conversions into fiat from billing periods beginning on or after Oct. 19, 2026. Institutional customers will then choose Standard redemptions with no Circle fee or Express redemptions priced at 0.05% of the gross amount before credits. Existing customers move to the revised schedule at the start of their next eligible billing period.
Why it matters
Circle Mint serves exchanges, banks, wallet providers and institutional traders, rather than individual users. The revised schedule retires the previous Standard tier, including its daily net-redemption fee and $10 million daily gross limit. The former Basic tier becomes Standard, while Institutional becomes Express.
Standard processing takes up to two business days, followed by additional bank settlement time. Express offers near-instant Circle processing for 5 basis points, but compliance reviews, banking availability and payment-rail conditions can extend the full settlement timeline.
Market impact
Express customers that mint more USDC and EURC than they redeem during a billing period can receive credits against redemption fees. The credit starts at 25% for eligible positive net minting, rises to 75% at $40 million and reaches 100% at $100 million. Credits cannot exceed fees paid, depend on billing-period activity and are not guaranteed.
The schedule also exempts Circle Payments Network activity from Express redemption fees. Circle Chief Commercial Officer Kash Razzaghi said CPN payment flows could redeem for free in near real time, while other platform customers could qualify through balances and eligible products. The key change is a simpler fee structure, with the 0.05% Express charge remaining for most eligible redemptions.
Frequently asked questions
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When does Circle's revised USDC redemption schedule take effect?
The revised schedule applies to billing periods beginning on or after Oct. 19, 2026. Existing customers move to it at the start of their next eligible billing period.
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What fee will Circle charge for Express redemptions?
Express redemptions remain subject to a 0.05% fee on the gross amount before credits. The separate net-redemption overage surcharge is being removed.
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How do Standard and Express USDC redemptions differ?
Standard has no Circle redemption fee and takes up to two business days for processing. Express targets near-instant Circle processing but carries the 0.05% fee before credits, with bank settlement time added.
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How can Express customers receive redemption-fee credits?
Customers with eligible positive net minting can receive credits when gross mints exceed gross redemptions during a billing period. Credits start at 25%, rise to 75% at $40 million and reach 100% at $100 million.
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Which Circle Payments Network activity is exempt from Express fees?
The revised public schedule exempts Circle Payments Network activity from Express redemption fees. Separate written agreements take precedence if they conflict with the public schedule.
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