Company
Date Published
Author
Team Circle
Word count
224
Language
English
Hacker News points
None

Summary

Circle Internet Financial released their December 2018 attestation report on the US dollar reserves backing USD Coin (USDC), which was conducted by the independent accounting firm Grant Thornton LLP. The report confirmed that as of December 31, 2018, the amount of USDC tokens issued, totaling 251,211,148, did not exceed the US dollars held in custody accounts, which amounted to $251,211,209. These monthly attestation reports aim to ensure transparency and trust in USDC's backing, as Circle continues its mission to enhance the accessibility, inclusivity, and efficiency of money movement globally. Additionally, Circle is actively expanding its services, with upcoming developments like Native USDC and Cross-Chain Transfer Protocol (CCTP) V2 integrations on platforms such as Plume and XDC Network, aimed at furthering economic opportunity and prosperity worldwide.