{"id":46414,"date":"2021-07-20T17:36:23","date_gmt":"2021-07-20T14:36:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46414"},"modified":"2025-09-01T16:16:55","modified_gmt":"2025-09-01T13:16:55","slug":"circle-discloses-details-of-usdc-reserves","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-discloses-details-of-usdc-reserves\/","title":{"rendered":"Circle discloses details of USDC reserves"},"content":{"rendered":"<p>The majority of USD Coin (USDC) issued to the market is backed by U.S. dollars. The remaining coins are backed by bonds and other highly liquid assets.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">As I shared just over a week ago, we are expanding our transparency on USDC Reserves. You can find the expanded table of reserves assets in our May attestation report: <a href=\"https:\/\/t.co\/dYCFnnxG82\">https:\/\/t.co\/dYCFnnxG82<\/a><\/p>\n<p>\u2014 Jeremy Allaire (@jerallaire) <a href=\"https:\/\/twitter.com\/jerallaire\/status\/1417473759880089606?ref_src=twsrc%5Etfw\">July 20, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Circle&#8217;s attestation report, the backing structure of the second-largest stablecoin comprises:<\/p>\n<ul class=\"wp-block-list\">\n<li>cash and cash equivalents \u2014 61% ($13.4 billion);<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>deposit certificates (<span data-descr=\"Negotiable dollar-denominated certificates of deposit issued by foreign banks on the US domestic market.\" class=\"old_tooltip\">Yankee CDs<\/span>) \u2014 13% ($2.9 billion);<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>U.S. Treasury securities \u2014 12% ($2.7 billion);<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>commercial paper \u2014 9% ($2.0 billion);<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>corporate bonds \u2014 5% ($1.1 billion);<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>municipal and other bonds \u2014 0.2% ($0.1 billion).<\/li>\n<\/ul>\n<p>The report states that Circle has issued USDC into the market with a total value of $22.2 billion.<\/p>\n<p>Earlier, the <a href=\"https:\/\/u1f987.com\/en\/news\/centre-consortium-launches-usdc-stablecoin-on-the-tron-blockchain\">Centre consortium launched USD Coin on the Tron blockchain<\/a>, and also <a href=\"https:\/\/www.centre.io\/blog\/announcing-usdc-on-ten-new-blockchain-platforms\">announced<\/a> plans to issue its stablecoin on nine more blockchains: Avalanche, Celo, Flow, Hedera, Kava, Nervos, Polkadot, Stacks and Tezos.<\/p>\n<p>In May <a href=\"https:\/\/u1f987.com\/en\/news\/circle-raises-440-million-from-ftx-dcg-fidelity-and-other-investors\">Circle raised $440 million<\/a> from FTX, Digital Currency Group, Fidelity and other investors.<\/p>\n<p>By the end of May the total market capitalization of stablecoins <a href=\"https:\/\/u1f987.com\/en\/news\/stablecoin-market-capitalization-has-surpassed-100-billion\">exceeded $100 billion<\/a>.<\/p>\n<p style=\" margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\">   <a title=\"View Grant-Thorton Circle Usdc Reserves 07162021 on Scribd\" href=\"https:\/\/www.scribd.com\/document\/516575174\/Grant-Thorton-Circle-Usdc-Reserves-07162021#from_embed\" style=\"text-decoration: underline;\">Grant-Thorton Circle Usdc Reserves 07162021<\/a> by <a title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\" style=\"text-decoration: underline;\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" class=\"scribd_iframe_embed\" title=\"Grant-Thorton Circle Usdc Reserves 07162021\" src=\"https:\/\/www.scribd.com\/embeds\/516575174\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-rfCz2G3yA6QrLbjHcFQV\" data-auto-height=\"false\" data-aspect-ratio=\"0.7729220222793488\" scrolling=\"no\" id=\"doc_99618\" width=\"100%\" height=\"600\" frameborder=\"0\"><\/iframe><\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The majority of USDC stablecoins are backed by US dollars. The remaining coins are backed by bonds and other highly liquid assets.<\/p>\n","protected":false},"author":1,"featured_media":46415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1220,807,910],"class_list":["post-46414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-circle","tag-stablecoins","tag-usdc"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46414"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46414\/revisions"}],"predecessor-version":[{"id":46416,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46414\/revisions\/46416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46415"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}