Coinbase said institutional clients will be required to pay exchange fees when their net exchange of USDC to U.S. dollars exceeds $75 million in a 30-day period. Among them, transactions between US$75 million and US$150 million will be charged a fee of 0.1%; transactions between US$150 million and US$500 million will be charged a fee of 0.15%; transactions exceeding US$500 million will be charged a fee of 0.2%. Coinbase added that conversion fees will be waived for Coinbase Prime customers who hold more than $500 million in assets on the platform or hold an average of $100 million in USD/USDC per calendar month. In addition, members of the Coinbase Exchange Liquidity Program who meet Tier 1 or Tier 2 qualifications are also exempt from USDC exchange fees as long as they meet the qualifications.