Circle Reports Net Increase of 300 Million USDC in Recent Week
Official data shows Circle issued 3.6 billion USDC and redeemed 3.3 billion, raising total circulation to 61.2 billion USDC backed by $61.6 billion in reserves.
Summary
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Terms & Concepts
USDC: A stablecoin pegged to the U.S. dollar, issued by Circle, designed to maintain a 1:1 value with USD.
Circle Reserve Fund: A reserve fund managed by Circle that holds assets to back the issuance of USDC, ensuring its stability.