# Announcement on Upgrading PSM to Support USDC Dear users, TDR will upgrade PSM on Aug 18, 2022 (SGT) . After the upgrade, the PSM will not only support the USDT but also the USDC, which goes a further step on improving the stability of the USDD price ,enriches and enhances the USDD issuing mechanism, and provides safer and more stable infrastructure for the USDD ecosystem. After the launch, PSM allows users to exchange USDC to USDD at a fixed ratio of 1:1. Similarly, it also allows users to exchange USDD to USDC at a fixed ratio of 1:1. The exchange process has no slippage and no handling fee. At the same time, users can also use PSM and USDD to achieve the exchange between USDT and USDC, enriching the application scenarios of the PSM and USDD. TDR will continuous improve the features of the PSM and bring better experience and higher revenue to users. Welcome to experience. Thank you for supporting PSM! 18th Aug 2022 --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://legacy-docs.usdd.io/news-center/announcements/announcement-on-upgrading-psm-to-support-usdc.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.