Circle Internet Financial
Circle Internet Financial Logo

Oct 01, 2024

December 18, 2018

USDC Reserve Attestation Report from Grant Thornton LLP — November 2018

what you’ll learn

Our latest USDC attestation report from Grant Thornton LLP is here. Download today to see how much USD is backing USDC.

USDC Reserve Attestation Report from Grant Thornton LLP — November 2018

Today, Circle released the second attestation report on US dollar reserves backing USDC issued by independent accounting firm, Grant Thornton LLP. The report states that as of November 30, 2018 at 11:59 PM UTC:

  • USD Coin (“USDC”) tokens issued and outstanding = 177,190,279 USDC
  • US Dollars held in custody accounts = $180,192,792
  • The issued and outstanding USDC tokens do not exceed the balance of the US Dollars held in custody accounts

Separately, while there won’t ever be more coins in circulation than dollars in reserve, reserve dollars may exceed coins in circulation due to timing. For a particular transaction, while dollars are deposited in advance, coins may be minted after the cutoff for a report.

You can read the full report here. Grant Thornton LLP will provide USDC attestation reports on Circle’s USDC reserves on a monthly basis.

Related posts

Built on Circle CCTP: Stableit SDK for Crosschain USDC Transfers

Built on Circle CCTP: Stableit SDK for Crosschain USDC Transfers

August 19, 2025
The GENIUS Act Era Begins – What it Means for Institutions and Innovation

The GENIUS Act Era Begins – What it Means for Institutions and Innovation

August 15, 2025
Native USDC & CCTP V2 are Coming to Hyperliquid: What You Need to Know

Native USDC & CCTP V2 are Coming to Hyperliquid: What You Need to Know

July 31, 2025
Blog
USDC Reserve Attestation Report from Grant Thornton LLP — November 2018
usdc-reserve-attestation-report-from-grant-thornton-llp-november-2018
December 18, 2018
Our latest USDC attestation report from Grant Thornton LLP is here. Download today to see how much USD is backing USDC.
USDC
No items found.