{"id":61847,"date":"2022-05-23T11:55:12","date_gmt":"2022-05-23T08:55:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61847"},"modified":"2025-09-05T14:34:06","modified_gmt":"2025-09-05T11:34:06","slug":"circle-begins-weekly-reporting-on-usdc-reserves","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-begins-weekly-reporting-on-usdc-reserves\/","title":{"rendered":"Circle begins weekly reporting on USDC reserves"},"content":{"rendered":"<p>Circle, the operator of the second-largest stablecoin USD Coin (USDC), has published reserve data. The firm intends to disclose the information weekly, its chief executive Jeremy Allaire said.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">1\/ As promised a week ago, we are now providing weekly reports on USDC reserves and liquidity operations. Here\u2019s a link to the new section on our website, and a brief thread below that helps provide context. <a href=\"https:\/\/t.co\/ECKu4cLWQS\">https:\/\/t.co\/ECKu4cLWQS<\/a> <a href=\"https:\/\/t.co\/ZZcYgC2tFD\">pic.twitter.com\/ZZcYgC2tFD<\/a><\/p>\n<p>\u2014 Jeremy Allaire (@jerallaire) <a href=\"https:\/\/twitter.com\/jerallaire\/status\/1527755729393819649?ref_src=twsrc%5Etfw\">May 20, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To this end, Circle opened a dedicated section on its website. According to the posted information, as of May 20 the total supply of the asset stood at 52.9 billion USDC \u2014 up 2.3 billion coins over the past seven days.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">2\/ Over the past week, we saw 8.6 billion USDC issued, and 6.3 billion USDC redeemed, with a net weekly increase in circulation of 2.3 billion USDC.<\/p>\n<p>\u2014 Jeremy Allaire (@jerallaire) <a href=\"https:\/\/twitter.com\/jerallaire\/status\/1527755730853498881?ref_src=twsrc%5Etfw\">May 20, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As of that date the stablecoin was backed by reserves totaling $53 billion. They consisted of short-term Treasury securities ($40.2 billion) and cash ($12.8 billion).<\/p>\n<p>To convert the reserves fully into these assets, the company and its Centre consortium partner Coinbase <a href=\"https:\/\/u1f987.com\/en\/news\/usdc-issuer-to-shift-reserves-into-cash-and-u-s-treasuries\">promised in August 2021<\/a>.<\/p>\n<p>In April Circle <a href=\"https:\/\/u1f987.com\/en\/news\/bny-mellon-named-primary-custodian-of-usdc-reserves\">selected the financial holding company BNY Mellon<\/a> as the primary custodian of the stablecoin&#8217;s reserves.<\/p>\n<p>Since September 2020, USDC <a href=\"https:\/\/u1f987.com\/en\/news\/usdc-and-busd-issuance-growth-outpaces-tethers-usdt\">has been rapidly catching up<\/a> with the market leader \u2014 USDT.<\/p>\n<p>In January 2022, the Centre-issued stablecoin on the Ethereum blockchain <a href=\"https:\/\/u1f987.com\/en\/news\/usdc-supply-on-ethereum-overtakes-usdt-for-the-first-time\">first surpassed<\/a> Tether&#8217;s stablecoin in market capitalization.<\/p>\n<p>USDC is also available on Algorand, <a href=\"https:\/\/u1f987.com\/en\/news\/usdc-stablecoin-launched-on-the-solana-blockchain\">Solana<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/usdc-stablecoin-launches-on-the-stellar-blockchain\">Stellar<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/centre-consortium-launches-usdc-stablecoin-on-the-tron-blockchain\">Tron<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/centre-consortium-launches-usdc-stablecoin-on-hedera-hashgraph\">Hedera Hashgraph<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/circle-launches-usdc-stablecoin-on-the-avalanche-blockchain\">Avalanche<\/a> and<a href=\"https:\/\/u1f987.com\/en\/news\/circle-launches-usdc-stablecoin-on-flow-blockchain\"> Flow<\/a> networks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle, the operator of the second-largest stablecoin USD Coin (USDC), published reserve data. The firm intends to disclose information weekly, its chief executive Jeremy Allaire said.<\/p>\n","protected":false},"author":1,"featured_media":61848,"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-61847","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":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61847","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=61847"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61847\/revisions"}],"predecessor-version":[{"id":61849,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61847\/revisions\/61849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61848"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}