Company
Date Published
Author
Jeremy Allaire
Word count
573
Language
English
Hacker News points
None

Summary

Circle Internet Financial, in collaboration with the Centre Consortium, emphasizes its commitment to trust, transparency, and accountability in the management of the USD Coin (USDC), a stablecoin pegged 1:1 with the U.S. dollar. Since USDC's inception nearly three years ago, the company has consistently provided reserve attestations, with the latest being the 33rd, which includes a detailed breakdown of dollar-denominated reserve assets. These reserves are held by U.S. regulated financial institutions, aligning with regulatory standards, although public disclosure of reserves is not yet mandatory. Circle's strategy is to lead the digital currency sector with transparency and collaboration between the public and private sectors, supporting the evolution of stablecoins within the global financial system. As USDC's circulation has surged by over 2,600% since early 2021, Circle remains focused on enhancing transparency and regulatory alignment, while preparing for its transition to a public company to further strengthen public trust and accountability.