Bitcoin Suisse has removed the crypto custody fee on USDC holdings, effective immediately.
This move follows a collaboration with Circle, the issuer of USDC, announced in January 2024.
The partnership aims to expand USDC liquidity in Europe “by maximizing its usage across all Bitcoin Suisse channels.”
USDC, which can be exchanged 1:1 for US dollars and “is fully reserved, is highly liquid, globally accessible, open-source, and designed for rapid, secure payments.”
With short settlement times and enhanced on/off-ramp speed, USDC allows Bitcoin Suisse’s clients “to store funds on-chain while remaining available as liquidity for trading activities. USDC is a standard supported trading pair versus all crypto assets tradeable at Bitcoin Suisse.”
With the latest advancement of Bitcoin Suisse’s collaboration with Circle, the crypto custody fee on USDC holdings has been “eliminated, enabling Bitcoin Suisse clients to store their USDC holdings free of charge on their Bitcoin Suisse Online Account.”
The latter is designed “for fast transactions and flexible connections to third parties such as exchanges, while crypto assets are held on separated blockchain addresses, providing utmost security – the optimal choice for storage supporting trading liquidity.”
USDC holdings in the cold storage, institutional-grade Bitcoin Suisse Vault “remain subject to the Vault custody fee (0.20% surcharge p.a.).”
Holding stablecoins like USDC at a crypto broker offers several advantages for investors and traders: they provide “lower volatility due to their fiat peg, improving portfolio stability, but also offer high liquidity and quick transaction capabilities, thus facilitating seamless trading operations.”
Cost efficiency is another benefit, “with lower transfer fees compared to fiat currencies.”
USDC can help diversify investment portfolios “in volatile market environments and may serve as a hedge in risk-off events – all while enabling convenient cross-border transactions and supporting financial inclusion.”
Bitcoin Suisse adds that it is pleased of its partnership with Circle and “is committed to further support USDC across its client base.”
