Circle Stablecoin to be held exclusively in cash and US Treasuries
USD Coin, the industry’s second-largest stablecoin, will now be backed by cash and short-term US treasuries, according to Centre. According to a recent blog post from the Centre Consortium , USD Coin (USDC) would only be backed by cash and US Treasury notes. In 2018, Boston-based Circle and Coinbase, an American cryptocurrency exchange, launched Centre. […]
Stablecoin Wars: Can Circle Survive?
For USDC to become the undisputed king of stablecoins, a number of factors must come together in the proper way for this to happen. USDC, the stablecoin that Circle operates, and its CEO, Jeremy Allaire, have ambitious goals for their respective companies and for USDC. Allaire noted in a blog post this week that Circle […]
Circle aims to establish a fully-capitalized national digital currency bank
Circle is willing to operate under the auspices of the Federal Reserve, the United States’ central bank. Treasury, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation, CEO Jeremy Allaire stated. Circle , a digital payment business sponsored by Goldman Sachs, has announced its intention to become a full-reserve national […]
See The Reason Behind Circle’s Dollar-Pegged Stablecoin USDC
The reserves that support the dollar-pegged stablecoin USDC were published today by Circle, the firm behind it. Circle, the stablecoin issuer, detailed the numerous sources of backing that underpin its stablecoin USDC in a blog post published this morning. Stablecoins are digital currencies that are tied to the value of a fiat currency, in this […]