Circle, the issuer of US dollar coins (USDC), has issued a report on fiscal reserve holdings confirmed by financial accounting, which applies to commodity circulation at this stage, which is worth more than $44.5 billion tokens.

Grant Thornton Accounting Group reviewed the reserve report of Circle in December 2022 and conducted an in-depth analysis of the current composition of the stable issuer reserve. According to the information of Circle, 44553543212 USDC has obtained the application of US $44693963701 in the depository account at this stage.

It is worth noting that a large part of the latter is invested in all kinds of US debt. Timothy Singh, senior vice president of Circle responsible for Finance, said that the total account balance of asset investment real estate in USDC reserves should be denominated in dollars, including a mix of cash and government bonds.

Circle's key profit of $44 Circle's reserve fund is registered as a government currency fund. The fund is wholly state-owned by Circle and contains 14 different foreign bonds with an use value of more than US $23.5 billion. The Fund also holds $48.9 million in cash and another $33 million to the Fund, but is offset by the opportunity and liquidation gap.

In addition, two uses of US debt worth $10.5 billion are reported in a separate reserve asset class, and several financial companies represent $10.5 billion in cash held by Circle.

Bank of America, which holds Circle cash reserves, includes New York City Mellon Bank, Chinese Citizen Private Equity Bank, customer Bank, New York City Community Bank, signatory Bank, Silicon Valley Bank and Bank of America.

Circle and payment system Ripple are the most prominent participants in the symposium on digital currency and blockchain technology at the Davos Forum in Davos in January 2023.

Corey Then, senior vice president of global institutions at Circle, indicated that the organization had held discussions with decision makers, traditional enterprises, technology limited companies and humanitarian agencies to expose the probability of using USDC as a payment solution.

Over the past few years, the position of Circle as a stable currency issuer has been growing, making USDC the second most popular stable currency encouraged by the US dollar, after Tether (USDT).