USDC

Circle, the issuer of the USDC stablecoin, has declared that it will use corporate resources and “external capital if necessary” to make sure that the USDC is redeemable at a 1:1 ratio with the U.S. Dollar.This statement comes in response to news of a $3.3 billion shortfall in cash reserves held by the collapsed Silicon Valley Bank.In a blog post, Circle stated that it is legally required to “stand behind” its USDC stablecoin, which is currently collateralized 77% with US Treasury Bills and 23% with cash held at various institutions, of which SVB is only one.Read more to find out about<a href="https://crypto.ro/en/news/circle-pledges-to-maintain-11-ratio-of-usdc-stablecoin-with-u-s-dollar/" rel="noopener noreferrer nofollow"> the Circle&#39;s USDC depeg</a>.

Circle pledges to maintain 1:1 ratio of USDC stablecoin with U.S. Dollar

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