Circle continues enhancing our transparency and today has shared a detailed look at the assets backing the USDC reserve.
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USDC 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).
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USDC monthly reserve reports
View monthly reserve details, including CUSIP, maturity date and market value of every U.S. Treasury bill in the USDC reserve portfolio, along with weighted average maturity (WAM) and the financial institutions where we hold our cash.
Weekly USDC reserves breakdown1
Balances |
||
JULY 29TH, 2022 |
AUGUST 5TH, 2022 |
|
USDC in circulation |
$54.6B |
$54.3B |
USDC reserves 2 |
$54.7B |
$54.5B |
Cash |
$12.3B |
$12.0B |
Short-duration U.S. Treasuries |
$42.5B |
$42.5B |
USDC issuance and redemption, July 29th – August 5th 20221 |
|
USDC issued | $1.4B |
USDC redeemed | $1.7B |
Weekly change in circulation | -$0.3B |
1 Data snapshot as of August 5th, 2022 12pm ET. 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)