USDC circulation reached $73.7 billion as of Aug. 27, while Circle reported $74 billion in reserves supporting a 1:1 redemption mechanism. During the previous seven days, Circle issued $11.2 billion of USDC and redeemed $10.2 billion, producing a $1 billion net increase. Over 30 days, issuance totaled $33.4 billion and redemptions $31.9 billion, for a $1.5 billion net increase. Circle said the reserves consist of highly liquid cash and cash equivalents, including bank deposits, overnight reverse Treasury repurchase agreements and Treasury securities maturing within three months, held separately from operating funds. The company publishes monthly attestations verifying reserves match circulating supply and has taken steps to comply with the EU’s Markets in Crypto-Assets (MiCA) framework. The net issuance reflects demand in decentralized finance and cross-border payments, with USDC remaining one of the largest stablecoins by market capitalization alongside Tether’s USDT.