{"id":61466,"date":"2022-05-14T11:35:26","date_gmt":"2022-05-14T08:35:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61466"},"modified":"2025-09-05T12:20:09","modified_gmt":"2025-09-05T09:20:09","slug":"circle-usdc-fully-backed-by-dollars-and-us-treasuries","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-usdc-fully-backed-by-dollars-and-us-treasuries\/","title":{"rendered":"Circle: USDC fully backed by dollars and US Treasuries"},"content":{"rendered":"<p>Circle has published information on its reserves and the issuance dynamics of the centralized stablecoin USDC.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Circle remains committed to the transparency and trust of USDC. Our CFO, Jeremy Fox-Geen explains in detail how we accomplish this. <a href=\"https:\/\/t.co\/Fi6ShqDVgl\">https:\/\/t.co\/Fi6ShqDVgl<\/a><\/p>\n<p>\u2014 Circle (@circlepay) <a href=\"https:\/\/twitter.com\/circlepay\/status\/1525229863099047936?ref_src=twsrc%5Etfw\">May 13, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the publication, 8.4 billion USDC were issued in the last seven days, 6.7 billion USDC redeemed. Total in circulation: 50.6 billion coins.<\/p>\n<p>The collateral structure of the centralized stablecoin as of May 13:<\/p>\n<ul class=\"wp-block-list\">\n<li>22.9% or $11.6 billion \u2014 cash dollars;<\/li>\n<li>77.1% or $39 billion \u2014 US Treasuries with maturities of up to three months.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cUSDC reserves are held at leading US financial institutions, including BlackRock and Bank of New York Mellon,\u201d the blog says.<\/p>\n<\/blockquote>\n<p>Circle undergoes annual audits, during which the collateral backing the stablecoin is also reviewed. The company provides <span data-descr=\"Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> reports and is preparing for a listing on the New York Stock Exchange.<\/p>\n<p>USDC ranks second in CoinGecko&#8217;s stablecoins rankings.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"525\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/stables-1024x525.png\" alt=\"Circle: USDC stablecoin fully backed by dollars and US Treasuries\" class=\"wp-image-173090\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/stables-1024x525.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/stables-300x154.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/stables-768x394.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/stables.png 1264w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Source: <a href=\"https:\/\/www.coingecko.com\/en\/categories\/stablecoins\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>The asset far surpasses Binance USD (BUSD) in market capitalization, though it trails somewhat in trading volume. Earlier, Tether <a href=\"https:\/\/u1f987.com\/en\/news\/tether-shifts-the-bulk-of-usdt-collateral-into-us-treasuries\">shifted<\/a> the bulk of its USDT collateral into US government bonds, reducing holdings in commercial paper.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle published information on its reserves and the issuance dynamics of USDC.<\/p>\n","protected":false},"author":1,"featured_media":61467,"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-61466","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":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61466","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=61466"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61466\/revisions"}],"predecessor-version":[{"id":61468,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61466\/revisions\/61468"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61467"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}