Circle's USDC Match auctions allow institutions to control redemption fees

Circle introduced USDC Match, a service that pairs eligible institutional USDC mint and redemption orders in hourly, prefunded auctions. Matched redeemers fund mint rebates, with clearing fees capped at the customer's maximum or Circle's Express rate. This service is open to eligible institutional Circle Mint customers, requiring approval and varying by jurisdiction, and does not guarantee matching or fee savings.