Why Was My Local Currency Converted to USDC?

As a licensed platform, and in accordance with our Terms of Service, local currency (ex: EUR, GBP, USD) can only be held in your account for up to 60 days. Any time between day 55 and day 60, we will convert it to USDC or USDT - stablecoins pegged to the US dollar. 

You can view the transactions from this automated conversion in your account’s Transaction History.