Circle, the second largest stablecoin issuer in crypto markets by volume, published a report titled “USDC Economic Status” for the first time, and included important details.
In its latest report, Circle included financial details for 2022. In this report, which is the subject of the news, from 2018 to the end of 2022 $213 billion While it is stated that they host the process, their systems have been without any glitches It was emphasized that all demands were met.
The company is responsible for all USDC reserves. of 80% part of 3-month treasury bonds He said he was being held and declared that this will change soon. As of the end of January, these assets Circle Reserve FundIn the report stating that they will be moved to Turkey, it was emphasized that this fund belongs entirely to them. The assets in the fund, a world-trusted bank, BNY Mellon While it is stated that the assets are guaranteed by 20% off It was announced that part of it was kept in the form of cash reserves.
In the report, USDC will only increase in 2022. Ethereum (ETH) on the net $4.5 trillion This amount is stated when it is stated that the transaction has been carried out. 60% part of smart contracts Added as a detail that it is related to. The reason for the high number of smart contracts was touted as the superiority of the USDC network in programming, as well as fast and cheap payments.