Representatives of the bitcoin startup Circle said that the stable USD Coin coins are fully secured by the Fiat dollar.
On October 31, there was $ 127 412 240.89 in the Circle vaults. According to experts, this amount exceeds the number of tokens in circulation at that time (127 408 827 USDC). Therefore, if necessary, at the end of last month, it could simultaneously repay all tokens released to the market.
The financial condition was checked by Grant Thornton LLP. It is an American division of the international organization Grant Thornton International, which provides audit, tax and consulting services to private and public companies in 130 countries.
Circle's financial health was audited against all certification standards set by the American Institute of certified public accountants (AICPA). Now in circulation is 162,9 million tokens USDC.
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