Circle opens hourly USDC auctions paying minters a rebate on redemption fees

Circle has launched hourly USDC auctions that pass the redemption clearing fee back to minters as a rebate, with charges capped at Circle's Express rate. The mechanism gives stablecoin issuers a way to recoup costs tied to redemptions rather than absorbing them entirely. Traders watching stablecoin economics will see this as a modest incentive for minting USDC and a potential competitive edge in the dollar-pegged token market.