Circle reported that in the seven days through Sept. 3, it issued about 11 billion USDC and redeemed about 10.4 billion USDC, bringing total USDC in circulation to 74.6 billion. Based on those figures, circulating supply increased by roughly 600 million tokens over the period. The company also said reserves backing USDC were about $74.5 billion. Those reserves included about $49.6 billion in overnight reverse repurchase agreements involving Treasuries, about $14.5 billion in Treasury securities with maturities of less than three months, about $9.6 billion in deposits held at systemically important institutions, and about $800 million in other bank deposits. The figures were cited in an Odaily newsflash.
Circle said that in the seven days through Sept. 3, it issued about 11 billion USDC and redeemed about 10.4 billion USDC, lifting total USDC in circulation to 74.6 billion.
Using those figures, USDC circulating supply increased by about 600 million tokens over the past seven days.
Circle also reported reserves of about $74.5 billion backing USDC. The reserve mix included about $49.6 billion in overnight reverse repurchase agreements involving Treasuries, about $14.5 billion in Treasury securities with maturities of less than three months, about $9.6 billion in deposits at systemically important institutions, and about $800 million in other bank deposits.
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