Circle Cleared All Backlog of Minting and Redemption Requests for USDC
The company has redeemed $3.8 billion worth of USDC and minted $0.8 billion since Monday.
Circle Redeemed $2.9B USDC and Minted $0.7B USDC As of March 13
Circle announced the cash portion of the USDC reserve will be held at BNY Mellon, with only limited funds held at transaction banking partners in support of USDC minting and redemption.
Circle CEO: US Government Took Right Path to Protect Financial System
Circle had parked its USD Coin stablecoin, which was supported by $3.3 billion in cash, with SVB.
