Circle added roughly 800 million USDC to circulation in the seven days through Aug. 20, according to an update cited by Odaily. Over that period, the company issued about 7.5 billion USDC and redeemed about 6.7 billion, leaving net growth of around 800 million tokens.
USDC’s total circulation stood at 72.7 billion. Circle said reserves were about $72.9 billion. Those reserves included about $48.1 billion in overnight reverse repos backed by Treasuries, about $12.7 billion in U.S. Treasuries with maturities of less than three months, about $11.4 billion in deposits at systemically important institutions, and about $700 million in other bank deposits.
Circle issued about 7.5 billion USDC and redeemed about 6.7 billion over the seven days through Aug. 20, lifting the stablecoin’s circulation by roughly 800 million, according to an update cited by Odaily.
USDC’s total circulation stood at 72.7 billion. Reserves were about $72.9 billion, including roughly $48.1 billion in overnight reverse Treasury repos, about $12.7 billion in Treasuries with maturities of less than three months, about $11.4 billion in deposits at systemically important institutions, and about $700 million in other bank deposits.
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