BNY Mellon becomes Circle’s USDC reserve custodian
Stablecoin issuer Circle has announced BNY Mellon as the custodian of its USDC assets. BNY Mellon was founded in 1784 and is one of America’s oldest banks, with about $46.7 trillion in assets under custody or management globally. It acts as a one-stop-shop for clients who want to manage their money. BNY Mellon said it […]
USDC on Coinbase is now ‘backed by fully reserved assets’
Contrary to the “backed by U.S. dollars in a bank account for USDC on Coinbase,” the website now states that USD Coin is “backed by fully reserved assets.” USD Coin (USDC), Circle’s dollar-pegged stablecoin, appears to have lost one of its most significant competitive advantages over Tether (USDT) (USDT). Following an audit that revealed that […]
Crypto.com authorizes USDC withdrawals for its users
USD Coin (USDC) withdrawals have now been authorized on the digital asset exchange platform Crypto.com. The news comes just over a month after the platform began accepting USDC deposits as part of a new collaboration with Circle, the stablecoin’s issuer. Users of Crypto.com were able to deposit fiat currency into their trading accounts and earn […]