Circle Has Enough Dollars to Back its Stablecoin, Says a Top 10 Accounting Firm

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Circle Has Enough Dollars to Back its Stablecoin, Says a Top 10 Accounting Firm

Postby kreslik.news » Wed Nov 21, 2018 7:58 pm


Goldman-funded startup Circle released a report that indicates the company behind US dollar-pegged stablecoin USDC does possess sufficient capital to back each individual token on a 1:1 basis.

The attestation of conformity, issued by the accounting firm Grant Thornton LLP, demonstrates that Circle held — at one point — fiat reserves that are slightly above the number of issued and outstanding USDC tokens in circulation.

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Founded in Chicago in 1924, Grant Thornton is the U.S. arm of UK-based Grant Thornton International Ltd, a top five ... (read more)

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