Circle Discloses Full Breakdown of $55.7 Billion USDC Reserves
As of June 30, approximately 75.6% of Circle's reserves were held in US Treasuries and 24.4% were held in cash in regulated financial institutions.< /p>
New
Circle Internet Financial has released a full breakdown of its USD (USDC) coin holdings for the first time – a move designed to provide transparency and build greater trust in the stablecoin issuer.
As of June 30, Circle's reserves of $55.7 billion were made up of $42.12 billion in short-term U.S. Treasury bills and $13.58 billion in cash held at financial institutions regulated in the country, the company revealed on Thursday. The weighted average maturity of its Treasury assets was 43.9 days.
“The USDC reserve is held solely in cash and 3-month US Treasury bills, held in segregated accounts for the benefit of USDC holders, and is entirely separate from Circle's operations,” said writes Circle CFO Jeremy Fox-Geen in a statement. accompanying blog post.
Circle continues to improve its transparency and today we shared a detailed look at the assets backing the USDC reserve. https://t.co/1tuaFWZhIO
— Circle (@circlepay) July 14, 2022Circle said the report is the first monthly breakdown of its stablecoin holdings and that it plans to provide daily information on its holdings eventually, pending approval from its custodians.
USDC has climbed the stablecoin rankings for much of 2022...
As of June 30, approximately 75.6% of Circle's reserves were held in US Treasuries and 24.4% were held in cash in regulated financial institutions.< /p>
New
Circle Internet Financial has released a full breakdown of its USD (USDC) coin holdings for the first time – a move designed to provide transparency and build greater trust in the stablecoin issuer.
As of June 30, Circle's reserves of $55.7 billion were made up of $42.12 billion in short-term U.S. Treasury bills and $13.58 billion in cash held at financial institutions regulated in the country, the company revealed on Thursday. The weighted average maturity of its Treasury assets was 43.9 days.
“The USDC reserve is held solely in cash and 3-month US Treasury bills, held in segregated accounts for the benefit of USDC holders, and is entirely separate from Circle's operations,” said writes Circle CFO Jeremy Fox-Geen in a statement. accompanying blog post.
Circle continues to improve its transparency and today we shared a detailed look at the assets backing the USDC reserve. https://t.co/1tuaFWZhIO
— Circle (@circlepay) July 14, 2022Circle said the report is the first monthly breakdown of its stablecoin holdings and that it plans to provide daily information on its holdings eventually, pending approval from its custodians.
USDC has climbed the stablecoin rankings for much of 2022...
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