GalaxyOne now accepts USDC deposits with zero swap fees

By TheStreet Roundtable

12 days ago

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Stablecoins are becoming a bigger part of how money moves globally, and platforms are starting to adapt.

GalaxyOne has introduced support for USDC deposits, allowing users to fund their accounts using digital dollars that move faster than traditional bank transfers. The update reflects growing demand from investors who increasingly hold a portion of their wealth in digital assets.

Stablecoins — digital tokens designed to maintain a fixed value against the U.S. dollar — have grown into a $317 billion market. USDC alone accounts for roughly $78 billion of that, making it the second-largest stablecoin behind Tether's USDT. Its supply has grown 73% year over year, outpacing USDT's 36% growth for the second consecutive year.

Why stablecoins are gaining traction

Stablecoins are built to hold a steady value, typically pegged 1:1 to the U.S. dollar. Unlike other digital assets that can swing wildly in price, stablecoins are designed to remain stable at $1.

That makes them useful for everyday financial activity. Individuals, businesses, and institutions use stablecoins to store value, send cross-border payments, and move funds instantly — without being limited by banking hours or multi-day settlement windows.

The numbers reflect the shift. Stablecoins processed $33 trillion in global transactions in 2025, and total transaction volume hit $28 trillion in Q1 2026 alone — a 51% jump from the prior quarter. Business-to-business stablecoin payments surged from under $100 million per month in early 2023 to over $6 billion per month by mid-2025.

What USDC is and how it works

USDC is a U.S. dollar stablecoin issued by Circle, a publicly traded company (NYSE: CRCL).

Each USDC token is backed 100% by cash and cash-equivalent assets held in reserve and can be redeemed 1:1 for U.S. dollars. Circle publishes monthly third-party reserve attestations from Deloitte, one of the Big Four accounting firms.

The reserves are held at BNY and managed by BlackRock through the Circle Reserve Fund. This structure has helped USDC become one of the most widely used stablecoins globally — and one of the few with a fully regulated, publicly traded issuer behind it.

How USDC deposits work on GalaxyOne

With the new feature, users can deposit USDC directly into their GalaxyOne accounts.

Deposits are typically completed within minutes, compared with traditional bank transfers that can take multiple days. Each USDC is redeemable 1:1 for U.S. dollars, and GalaxyOne does not charge a swap fee for converting USDC into cash.

Once the deposit is confirmed, the funds are automatically converted into USD and made available across the account.

Users can then:

Trade select crypto assets
Invest in commission-free stocks and ETFs
Allocate funds to Galaxy Premium Yield, which offers U.S. accredited investors 8.00% yield on cash investments of up to $1 million

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How to fund an account using USDC

The deposit process is designed to be simple:

Select “Deposit” from the cash account or use the mobile app shortcut
Choose USDC and select either the Ethereum or Solana network
Send USDC from an external wallet by scanning a QR code or using the deposit address

All USDC deposited into the GalaxyOne crypto account is automatically converted into USD in the cash account. Users can later convert funds back into USDC and withdraw to an external wallet without paying a swap fee.

A shift toward faster money movement

The addition of USDC deposits reflects a broader shift in how financial platforms are evolving.

Traditional banking systems operate within fixed hours and settlement timelines. Stablecoins, by contrast, allow money to move instantly at any time.

As more investors adopt digital assets, features like stablecoin funding are becoming a standard part of modern financial platforms.