Treasury bonds with an average maturity of 44 days, with the latest expiry date being Sept. government bonds and $13.6 billion in cash.The asset breakdown, published in a blog post by the company Thursday, shows that as of June 30 Circle held $42.1 billion of U.S. USDC price is updated and available in real-time on Binance.Ĭircle Internet Financial released a detailed – though unaudited – breakdown of its reserve assets for the firm’s USD coin (USDC) that showed $42.1 billion in short-term U.S. USDC has entered a number of notable partnerships, including Visa, Mastercard, and Twitter. The acquisition is seen as a way for Coinbase to strengthen its ties to the stablecoin market. The deal is reportedly worth $400 million and will give Coinbase a seat on Circle's board of directors. In August, 2023, Coinbase announced that it had acquired a minority stake in Circle, the company that issues the USDC stablecoin. The coin provides users with a number of use cases, such as portfolio balancing, hedging against volatility, pricing in fiat currency, fast international remittances, peer-to-peer (P2P) payments, and payment interoperability across different blockchains.
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The $43 billion dollar plus market cap has seen to it that USD Coin has remained a top five crypto for some time now.
USDC is the number two stablecoin, but it is also the fifth largest market capitalization in the cryptocurrency market at the time of writing. The USDC stablecoin is the second largest stablecoin ecosystem, behind only USD Tether ( USDT ), and just above Binance USD ( BUSD ). USDC is compatible with a number of different blockchains, including Ethereum, Algorand, Solana, Stellar, and TRON. These reserves are overseen by the accounting firm Grant Thornton, which publishes monthly attestation reports. Before Binance supported the Lira, rival crypto exchange Huobi Global announced in October that it would add a Turkish Lira/Tether pairing by the end of 2019.USD Coin (USDC) is a stablecoin pegged to the US dollar at a 1:1 ratio and is designed to remain stable regardless of cryptocurrency market conditions.Īs a fully backed stablecoin, it holds US dollar asset reserves in regulated US financial institutions. Even more, in a survey with Austrian bank ING, which showed that the world was getting sick of crypto, 62% of Turkish respondents held positive opinions about crypto.Ĭorrespondingly, other crypto exchanges have also upped their game when it comes to the Turkish Lira. The government’s testing a blockchain-based Turkish lira, and 20% of Turkish citizens own or use cryptocurrency, according to a 2019 poll by Statista. The main people behind Crypto Capital have since been indicted for fraud and money laundering.īut Turkey appears to be warming up to crypto. Like many other crypto companies, in the past Binance resorted to banking with Crypto Capital, a payments processor for crypto companies that allegedly tricked banks into thinking it was running a real estate business. The partnership with the large bank seems like an about turn from old-money, which has historically refused to bank with cryptocurrency businesses. “As the industry scales with our products and services that grow in tandem, the availability and process of investing, exchanging and trading crypto will become more and more seamless,” said Zhao. “As part of our mission to continue working on increasing the freedom of money worldwide and notably in a country that is fast-adopting digital assets, we are expanding the available options to lower the barrier to entry,” said Binance CEO Changpeng Zhao, in a statement.īinance said Akbank is the first bank to integrate directly with Binance. $0.170579 36.82% Terra Classic (Wormhole)ĪD Binance is one of the biggest crypto exchanges.
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