Circle releases new USDC reserves report

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USDC issuer Circle has released a new monthly stablecoin reserves report from leading accounting firm Grant Thornton.

Circle said it is open to dialogue withinvestors and wants to draw their attention to the quality of USDC reserves. According to the report, USDC reserve assets are valued at $54.6 billion with $54.5 billion in circulation. The funds are placed in US dollars in the amount of $12.2 billion and US Treasury bonds in the amount of $42.3 billion.

“The stablecoins we issue correspond toto the highest market standards. That is why USD Coin (USDC) does not lose its peg and can always be exchanged for US dollars in a 1:1 ratio, and Euro Coin (EUROC) - for euros in a 1:1 ratio. Pay attention – always,” Circle said in a statement.

It was previously reported that the publication of such reportswill become monthly. Tether, the issuer of the USDT stablecoin, also announced a partnership with BDO Italia to conduct monthly certification and audit of financial statements.