Circle Raises Fees Despite Rising Stablecoin Market Competition.

Circle Internet Financial Ltd. has recently increased fees for cashing out its USDC stablecoin, with additional charges for near-instant redemptions exceeding $2 million a day. The company justifies these fees as necessary for providing instant liquidity globally, similar to traditional financial institutions. Competition in the stablecoin market has intensified, with Circle facing challenges from larger rivals like Tether Holdings Ltd. Despite struggles, Circle is still pursuing plans for a stock-market listing after a failed merger attempt in 2022. [Extracted from the article]