Next week, OKX will remove 11 spot trading pairs from its platform. While most of the names will not be surprising, one stands out: USDT/USDC.
Along with some lesser-known tokens, such as ZERO, PRQ, IQ, ARTY and SAMO, the pair that acts as a stablecoin-to-stablecoin ramp for many users will also be taken offline. According to the platform, the decision is part of its regular review process to maintain healthy trading markets. However, no further explanation was given.
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It is unclear whether this is due to low volume, adjusting priorities, or something related to OKX’s entry into the U.S. market, the timing of which is hard to ignore. The exchange is in the middle of a major U.S. rollout, having secured licenses in 47 states and opened a new headquarters in San Jose.
Earlier this month, OKX brought in Roshan Robert, a former Barclays and Hidden Road executive, to lead the charge in the region.
What’s next?
Any open orders on affected pairs that are not closed manually will be canceled automatically during the delisting window. Users can still find their assets under the “Untradable” section after that.
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Behind the scenes, reserve balances are adjusting as well. In its latest proof-of-reserves report (based on a snapshot taken on April 7), OKX showed a 3.62% drop in USDT holdings — a decrease of nearly $295 million — and an even stronger 8.04% decrease in USDC, losing over $100 million. This may or may not be connected, but the pattern is there.
For now, users are left to watch a key stablecoin pair disappear from the platform with few details explaining why. They are also left to wonder if this is a technical cleanup or part of something bigger as OKX realigns its U.S. strategy.