Circle has published information on the reserves and dynamics of the issuance of the centralized stablecoin USDC.

Circle remains committed to the transparency and trust of USDC. Our CFO, Jeremy Fox-Geen, explains in detail how we achieved this. https://t.co/Fi6ShqDVgl

— Circle (@circlepay) May 13, 2022

According to the publication, 8.4 billion USDC has been minted and 6.7 billion USDC redeemed in the past seven days. There are 50.6 billion coins in circulation.

Central stablecoin collateral structure as of May 13:

• 22.9% or $11.6 billion – cash dollars;
• 77.1%, or $39 billion – US Treasury bills with a maturity of no more than three months.

“USDC reserves are held at leading US financial institutions, including BlackRock and Bank of New York Mellon,” the blog says.

Circle undergoes annual audits that also check the stablecoin’s support. the company provides SEC reports and is preparing to be listed on the New York Stock Exchange.

USDC is ranked second in the stablecoin ranking by CoinGecko.

The asset significantly exceeds Binance USD (BUSD) in terms of capitalization, while slightly lower in terms of trading volume.

Recall that Tether transferred most of its USDT collateral to US government bonds, reducing positions in commercial securities.