USDC Reserve Attestation Report from Grant Thornton LLP — November 2018
Blog post from Circle
Circle Internet Financial has released its second attestation report on the US dollar reserves backing its USD Coin (USDC), conducted by the independent accounting firm Grant Thornton LLP. The report, dated November 30, 2018, confirms that the total USDC tokens issued and outstanding amount to 177,190,279, while the US dollars held in custody accounts total $180,192,792. This indicates that the USDC tokens do not exceed the US dollar reserves, and although the reserves may occasionally be higher due to timing differences in transactions, USDC maintains a 1:1 backing. Grant Thornton LLP will continue to provide monthly attestation reports on Circle's USDC reserves. Circle aims to revolutionize the movement of money, enhancing accessibility, inclusivity, and efficiency to foster global economic opportunity and prosperity.
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