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New Levels of Detail in the Monthly USDC Attestation
Trust & Transparency
August 25, 2022

Circle’s July USDC attestation report from Grant Thornton gives independent validation of the cash and U.S. Treasury assets that comprise the USDC backing

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August 9, 2022

As a regulated entity, Circle has built trust in USDC by balancing the ecosystem with active, global policy and regulatory engagement. Now we take that trus...

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July 14, 2022

Circle continues enhancing our transparency and today has shared a detailed look at the assets backing the USDC reserve.

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July 13, 2022

Circle’s position is stronger than ever, and we’re investing for the long term while remaining committed to building trust and providing transparency.

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July 12, 2022

Circle is subject to strict regulatory oversight. Building a new infrastructure layer for the internet can’t be done without rigorous oversight.

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July 6, 2022

Circle Yield is overcollateralized and built to offer our lenders meaningful security. See how you can start protecting your capital with Circle Yield.

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July 5, 2022

Circle aspires for digital assets to be used by billions of people to exchange trillions of dollars of value daily. See what we're doing to make this possib...

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June 13, 2022

USDC is always redeemable 1 for 1 for US Dollars. Any amount. Always. Period.

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June 3, 2022

We remain committed to transparency and trust, and will continue to enhance reporting and disclosure with simple, clear and frequent updates on USDC.

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May 26, 2022

Common concerns and misconceptions from developers about USDC and Stablecoins are addressed in this Q&A

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Stability you can trust

USDC and Euro Coin are fully backed by highly liquid fiat reserves held separately from Circle’s operating funds at leading financial institutions for the benefit of our stablecoin holders. We regularly issue reports on all reserve assets, along with our SEC filings, as part of our strong commitment to transparency.

Monthly attestations

View monthly reserve attestations from Grant Thornton, a leading global accounting firm, which provide assurance that the amount of stablecoin reserves are greater than the amount in circulation each month, according to attestation standards set out by the American Institute of Certified Public Accountants (AICPA).
USDC Euro Coin

2022

2021

2020

2019

2018

2022

Weekly USDC reserves breakdown1

 

Balances
 
SEPTEMBER 15th, 2022
SEPTEMBER 22nd, 2022

  USDC in circulation

$50.4B

$50.0B
  USDC reserves 2

$50.5B

$50.1B
Cash

$10.4B

$11.6B
Short-duration U.S. Treasuries

$40.1B

$38.5B

 

 

USDC issuance and redemption, September 15th – September 22nd 20221
 
USDC issued $1.8B
USDC redeemed $2.2B
Weekly change in circulation -$0.5B

1 Data snapshot as of September 22nd, 2022 end-of-day. These weekly figures were calculated by Circle Internet Financial, LLC and have not been verified by any independent third party auditor (Including Grant Thornton). A Circle customer can always mint or redeem USDC in 1:1 exchange for U.S. Dollars through their Circle Account; customers are able to mint and redeem nearly instantly subject to settlement of funds

2 USDC is backed by the equivalent value of U.S. dollar denominated assets; USDC reserves are kept in the custody of leading U.S. financial institutions, including BlackRock and Bank of New York Mellon. Cash is held at US financial institutions; US Treasuries are held at third party custodians (US Bank, Bank of New York Mellon) and managed by professional asset managers (US Bank Asset Management, BlackRock)