Circle, the Goldman Sachs-backed startup behind 1:1 US dollar-collateralized cryptocurrency USD Coin (USDC), published its second USDC attestation report on Wednesday. Prepared by US-based audit and tax consultancy Grant Thornton, the document corroborates the fiat money data in Circle’s Reserve Account report.

According to Circle Internet Financial, which wrote the Reserve Account report, $180,192,792 in custody accounts backed 177,190,279 USDC coins in circulation as of end-November. Fiat money in the reserves exceeded USDC tokens on the market because for some of transactions, miners created the coins after the accounting document was drawn up, the startup explained.

Verifying those claims, Grant Thornton said in the attestation report:

This article appeared first on Cryptovest

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