USDC/ EURC redemption structure


 

 

This page describes the fees and credits that apply when you redeem USDC or EURC through your Circle Mint account. It forms part of the fee schedule referenced in the Circle Mint User Agreement, the USDC Terms, and the EURC Terms (together, the "Terms"). Capitalized terms that are used but not defined on this page have the meanings given in the Terms. If this page conflicts with a separate written agreement between you and Circle, that written agreement controls.

Circle regularly evaluates its redemption structure for USDC and EURC as we continue to expand our banking infrastructure and support customer needs.

Redemption Options

  • Standard (formerly Basic): Redemptions have no fee. Processing takes up to two business days, followed by bank settlement time.
  • Express (formerly Institutional): Redemptions are processed near-instantly, followed by bank settlement time. The fee is 5 bps on gross redemptions, and eligible net minters can receive Net Mint Redemption Credits of 25%, 75% or 100% of fees paid.
  • Circle Payments Network (CPN) customers: Express redemption fees do not apply to CPN activity. Contact your Business Development or Partner Manager to learn more about CPN products and pricing.

Effective on or after October 19, 2026, we are simplifying the Circle Mint redemption fee structure. All customers can redeem USDC and EURC without any redemption fee charged by Circle through Standard (formerly Basic) redemptions. Express redemptions carry a 5 bps fee on the gross redemption amount, which may be reduced or eliminated through net minting credits. These changes preserve the fast, reliable fiat access customers depend on. Existing Mint customers will be subject to the new fee structure at the start of the next billing period on or after October 19.

What is not changing

  • Processing and settlement mechanics remain unchanged.
  • Core access to Circle Mint and fiat redemption rails remains the same.
  • Net minting credits for Express (formerly Institutional) clients

Redemption Structure - Beginning October 19, 2026

 

Standard (formerly Basic)

Express (formerly Institutional)

Fee on gross redemptions

None (0 bps)

5 bps on the gross redemption amount

Net Mint Redemption Credit

N/A (no fees to credit)

Qualify by net minting dollars for the billing period:

$0+ = 25% credit

$40M = 75% credit

$100M = 100% credit

Credits are capped at redemption fees paid.

Processing**

Within two business days, plus bank settlement time

Near-instant, plus bank settlement time

* Indicates new and/or changed from the current public tier.

** Processing times run from Circle’s acceptance of a complete redemption request and do not include the time your bank or the payment rail takes to credit funds. Processing may take longer if Circle must complete compliance, fraud, or sanctions review, if a payment rail or banking partner is unavailable, or as otherwise permitted under the Terms.

You can switch your redemption structure by contacting Customer Care. Our team is available 24/7 to assist you.

Important Notice for Circle European Economic Area Customers (EEA) in the Standard (formerly Basic) Tier:

  • Customers should refer to the table above for full pricing.
  • If you prefer not to use Circle Mint Account services, redemptions are also available outside of Circle Mint via the Circle MiCA Redemption Policy.

Customers using the Core API for Institutions

Customers using Core API for Institutions will have sub-accounts within their Circle Mint account, each representing mint/redemption activity for a specific end customer. Credits are calculated at the sub-account level and settled by Circle with the customer at the end of the month. You are responsible for any allocation of credits to your end customers. Express (formerly Institutional) pricing applies to all sub-accounts.

Important balance rule

USDC redemptions and fees can only be deducted from your USDC balance. EURC redemptions and fees can only be deducted from your EURC balance.

Frequently Asked Questions

What is the updated redemption fee structure?

Effective on or after October 19, 2026, the Circle Mint redemption structure:

  • Simplifies the structure to two options: Standard (formerly Basic) and Express (formerly Institutional).
  • Retires the prior Standard tier, including its daily net redemption fee and $10M daily gross limit.
  • Removes the Net Redemption Overage from all tiers.

Retains Net Mint Redemption Credits. Customers can choose between Standard and Express redemptions based on their needs.

Are tiers changing?

Yes. Basic is renamed Standard, Institutional is renamed Express, and the prior Standard tier is retired.

What is the Net Mint Redemption Credit?

Express customers who mint more than they redeem during a month may receive a credit on redemption fees paid. Customers qualify by net minting dollars:

  • Net mint of $0+ → 25% credit
  • Net mint of $40M → 75% credit
  • Net mint of $100M → 100% credit

Credits are capped at redemption fees paid during that period, are not guaranteed, and depend on net minting activity. No credit applies for a Billing Period in which your net minting position is zero or negative.

How is the monthly billing period calculated?

Circle calculates a fixed evaluation window, starting on the same day of each month.

Net minting position is defined as:

  • Net minting position = gross mints – gross redemptions.
  • If positive (net mint), Express customers may qualify for a credit.

What changed for Standard (formerly Basic) customers?

Standard redemptions remain free, and the Net Redemption Overage Fee no longer applies.

What changed for Express (formerly Institutional) customers?

The Net Redemption Overage Fee is removed.

Why is Circle implementing this update?

Circle regularly evaluates its redemption structure to:

  • Simplify our fees and remove net redemption overages
  • Preserve fast and reliable fiat access

When does the updated structure take effect?

The updated structure takes effect on or after October 19, 2026.

What fees and credits apply?

There are two types of fees/credits that a customer can accrue:

1) Daily Redemption Base Fees

Customers using Express redemptions are charged the following daily fee. Standard redemptions are free:

  • Redemption Tier Base Fee: accrued each day, but billed monthly.
  • Express Tier Daily Redemption Fee based on gross daily redemption amount.

2) Net Mint Redemption Credit

  • A monthly credit as a percentage of the base redemption fee for customers who net mint during the billing period.
    • Applies to Express tier customers only.

How are fees calculated?

Daily fees are calculated each day. Customers can track their estimated daily fees based on their mint and redemption activity via UI and APIs.

How does the Net Mint Redemption Credit work?

For customers with a Net Mint Redemption Credit, we:

  • Calculate total redemption fees.
  • Calculate credit percentage based on the net minting activity.
  • Credit the percentage of redemption fees back against the total redemption fees.
  • Deduct only the final balance, if any, on the fourth calendar day of the month following the close of billing period.

Example

  • Express tier gross redemption fees: $1M
  • Net mint activity of $5M over the billing period qualifies for 25% redemption credits (e.g., $250,000 credit)
  • Final amount deducted: $1,000,000 (redemption fee) – $250,000 (credit) = $750,000
  • The customer is charged only the net amount.

When are fees, credits, and invoices processed?

All fees, credits, and invoices are processed on the fourth business day of the month following the end of a billing cycle.

This follows the same schedule as the current redemption fee invoicing process.

Example

  • Billing cycle: April 8 – May 7, 2026
  • Invoice date and fee deduction date: June 4, 2026

If you have additional questions about your tier, fees, or how to estimate charges, please contact customer-support@circle.com.

What if a customer doesn't have sufficient funds to cover fees?

  • If your balance is not sufficient to pay fees when due, Circle will deduct the unpaid fees when sufficient funds become available. Circle will not apply credits until all past-due fees are paid.
  • If any fee remains unpaid 30 days after its due date, Circle may suspend your redemption access as permitted by the Terms and subject to applicable law.

Can a customer switch tiers?

Yes. Tier changes are available by contacting customer-support@circle.com.

Can a customer be moved to a new tier immediately?

New tier changes will be effective on the following day (USDC=12pm ET, EURC=12pm CET).

When does the daily redemption calculation reset?

The daily redemption calculation resets at the following times for all accounts, regardless of redemption tier: USDC: 12pm ET; EURC: 12pm GMT + 2

Are credits guaranteed?

No. Net Mint Redemption Credits depend on net minting activity during the monthly window and cannot exceed redemption fees paid in that period.

Are processing speeds changing?

No. Settlement timing may vary based on transaction method and banking rails.