Evolving USDC Reserves to 100% Cash and Short Duration US Treasuries

Circle Internet Financial plans to transition its USDC reserves entirely to cash and short-duration U.S. treasuries, reflecting its commitment to consumer protection and regulatory compliance. This move coincides with the company's broader ambition to become a full-reserve national digital currency bank, operating under the supervision of major U.S. regulatory bodies such as the Federal Reserve and the FDIC. The rapid adoption of dollar digital currencies, or stablecoins, is drawing increasing attention from mainstream financial participants and regulators, as their potential to support trillions in economic activity becomes apparent. Circle is actively engaging with policy makers and federal agencies to establish future supervisory standards while continuing to drive innovation in digital currency and blockchain-based financial market infrastructure. Additionally, the company is involved in a proposed transaction with Concord Acquisition Corp, for which they have filed relevant documents with the SEC, advising investors to review these documents for important information. Circle's forward-looking statements about these developments highlight both the opportunities and uncertainties inherent in the evolving digital currency landscape.

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