Circle Match enables hourly auctions for USDC minting and redemption

Circle's new institutional service pairs mint and redemption orders in prefunded batch auctions, rebating fees to matched minters Circle has launched a new way for big players to move between dollars and USDC . Once an hour, buyers and sellers meet in an auction instead of each dealing with Circle separately. The service, called Circle Match , went live on October 22, 2026. It runs hourly batch auctions that pair USDC mint orders with redemption orders. Minters whose orders get matched receive a rebate, and redeemers clear at or below Circle’s Express rate. Start with the basics.