1. What Is the USD Market?
The USD Market refers to a unified USD trading market where Gate consolidates spot liquidity from USD-equivalent quote assets, such as USDC, USD1, and RLUSD.
For example, in the BTC/USD market, users can choose to place orders using USDC, USD1, or RLUSD. All orders are matched in the unified BTC/USD order book. After an order is filled, the system deducts, credits, and displays records based on the trading currency selected when the order was placed.
2. Which Trading Currencies Does the USD Market Support?
The USD Market currently supports switching between the following trading currencies:
- USDC
- USD1
- RLUSD
Available trading currencies may vary by region, account, or trading pair. Please refer to the actual trading page for availability. Additional stablecoins pegged 1:1 to USD may be added in the future.
3. How Do I Select the Trading Currency for an Order?
After entering a spot USD trading market, you can switch between available currencies in the “Trading Currency” field in the order panel.
After switching the trading currency:
- Your selected currency will be deducted when you place an order;
- Your available balance will display the balance of that currency;
- Relevant amounts in trading volume, order history, and trade history will be displayed in your selected currency;
- Prices will continue to be displayed in USD.
4. What Happens if the Buyer and Seller Use Different Trading Currencies?
If the buyer and seller select different trading currencies, their orders will still be matched in the same USD order book. After the trade is filled, Gate will complete the necessary internal asset conversion, clearing, and settlement. Users do not need to manually convert currencies.
Example:
- The buyer chooses to use USDC to buy BTC;
- The seller chooses to sell BTC and receive USD1;
- The two orders are filled in the unified BTC/USD order book;
- After the trade is filled, USDC is deducted from the buyer’s account and the buyer receives BTC;
- BTC is deducted from the seller’s account and the seller receives USD1.
Balances, order history, and trade history will be displayed according to the trading currency selected by each user.
5. Why Are All Trading Pairs Displayed as XXX/USD?
After the USD Market launches, relevant USD-denominated quote assets will be consolidated and displayed as USD trading markets. Therefore, trading pair names will be displayed in the unified XXX/USD format, such as BTC/USD.
This allows users to view consolidated order book depth and market data within the same market, avoiding a fragmented trading experience caused by separate quote markets for USDC, USD1, RLUSD, and other assets.
6. Does Using the USD Market Require Any Additional Steps?
No. Simply select the trading currency you want to use in the order panel and submit your order. Order matching, internal conversion, clearing, and settlement are handled automatically by the system.
Spot trading fees will be charged according to Gate’s current fee rules. Please refer to your trade history and the fee page for specific deduction and display details.
7. Does the USD Market Support Spot Margin Trading?
The current USD Market supports spot trading only. Isolated margin and cross margin trading are not supported.
After entering a USD trading market, the page will be displayed according to spot trading rules. If you want to trade on margin, please go to the corresponding market that supports margin trading. Refer to that market’s page for the supported collateral assets and borrowable assets.
8. Do I Need to Update the App?
To enjoy the full USD Market experience, we recommend updating the Gate App to the latest version.
When using an older version of the App, you may be unable to place orders, see incorrect trading currency information, or view incomplete order amounts. If the page prompts you to update, please update the App before trading.
9. How Do I Get Started With the USD Market?
Follow these steps:
- Log in to your Gate account;
- Switch to the USD Market through the market selector and enter the spot trading page;
- Select a trading market, such as BTC/USD;
- Select a trading currency in the order panel, such as USDC, USD1, or another supported stablecoin;
- Enter the price, quantity, or order amount;
- Confirm the order details and submit the order.
After your order is successfully submitted, the system will deduct funds and display trade records based on your selected trading currency.
Disclaimer
The content provided herein is for reference and educational purposes only and does not constitute any financial, investment, trading, or legal advice, nor does it constitute an offer or solicitation to buy or sell any digital assets. Gate makes no express or implied representations or warranties regarding the accuracy, completeness, or timeliness of the information contained herein. Product features, interfaces, rules, and fee structures may be updated or adjusted at any time. Please refer to the latest announcements and the actual information displayed on the Gate platform for the most accurate details.
Digital asset investments involve significant risk, and prices may fluctuate substantially. You may lose the entire amount of your investment. Please make decisions cautiously based on your own financial situation and risk tolerance after fully understanding the associated risks. If necessary, you are advised to consult an independent professional financial or legal advisor.
For more information about potential risks, please refer to Gate's Risk Disclosure and User Agreement.
