Circle, the issuer of USDC, has unveiled a new monthly report on stablecoin reserves, prepared by one of the leading audit firms, Grant Thornton.
Circle said it is open to dialogue with investors 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 meet the highest market standards. That is why USD Coin (USDC) does not lose its peg and can always be exchanged for US dollars at a ratio of 1:1, and Euro Coin (EUROC) – for euros at a ratio of 1:1. Paying attention – always,” Circle said in a statement.
Earlier it was reported that the publication of such reports will become monthly. Tether, the issuer of the USDT stablecoin, has also announced a partnership with BDO Italia to conduct a monthly review and audit of financial statements.
Source: Bits
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