Internet reports that New York-based stablecoin issuer Circle will increase the conversion fee for its USDC stablecoin. Circle will charge a fee for USDC redemptions exceeding $15 million and an additional fee for instant redemptions exceeding $2 million per day. These fees start at 0.03% per transaction, with a maximum of 0.1% for redemptions exceeding $15 million. Analysts at The Block said it seemed reasonable for Circle to adjust its fees in the face of a lower interest rate environment and IPO pressure.