Crypto finance startup Circle’s USDC stablecoin was fully backed with fiat reserves at the close of 2018, according to auditing firm Grant Thornton.

The auditor published an attestation report on Wednesday, stating that Circle had $251,211,209 held in custody accounts as of Dec. 31, 2018, against the 251,211,148 USDC tokens in circulation at the time.

Goldman Sachs-backed Circle currently has a total of 353,309,381 USDC tokens on the markets, according to data from Etherscan, indicating it has topped up supply by about 100 million tokens within the last 15 days.

Continue Reading on CoinDesk

Like this: Like Loading...