The majority of Circle’s USDC stablecoin is backed by U.S. dollars, the company revealed on Tuesday. Circle, a global payments company, was one of USDC’s creators. It published a breakdown of its assets backing the stablecoin for the first time in its latest attestation report, which was dated July 16. According to the report, about 61% of its tokens are backed by “cash and cash equivalents,” meaning cash and money market funds.
Yankee Certificates of Deposit – meaning CDs issued by foreign (non-U.S.) banks – comprise a further 13%, U.S. Treasuries account for 12%, commercial paper accounts for 9%, and the remaining tokens are backed by municipal and corporate bonds. The company has issued about $22.2 billion worth of USDC, according to the attestation.
It’s unclear what, specifically, Circle has invested in to back USDC. The company intends to go public later this year in a merger with a special purpose acquisition company that would value Circle at $4.5 billion.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | ![]() |
Bitcoin predictions | 72% | 51 | $27 716.54 | -1.82% | 12.55% | $535 636 495 855 | ||
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Ethereum predictions | 78.4% | 34 | $1 755.09 | -2.51% | 5.91% | $214 776 666 177 | ||
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Tether predictions | 96% | 1 | $1.002644 | 0.08% | -0.01% | $77 641 115 939 | ||
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Binance Coin predictions | 74% | 47 | $324.28 | -4.30% | 2.71% | $51 200 109 142 | ||
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USD Coin predictions | 90.8% | 2 | $0.999666 | 0.09% | 0.01% | $34 710 233 106 | ||
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XRP predictions | 85.6% | 17 | $0.430223 | -7.21% | 17.82% | $21 920 232 563 | ||
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HEX predictions | 63.2% | 82 | $0.122471 | 17.07% | 52.82% | $21 237 782 043 | ||
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Cardano predictions | 78% | 44 | $0.363953 | -4.28% | 12.00% | $12 636 148 693 | ||
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Lido stETH predictions | 92% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
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Dogecoin predictions | 73.2% | 57 | $0.074806 | -1.43% | 6.59% | $9 924 596 389 | ||
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Polygon predictions | 76.4% | 51 | $1.12 | -3.14% | -0.40% | $9 779 730 336 | ||
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Solana predictions | 74.8% | 54 | $21.61 | -3.84% | 11.54% | $8 292 848 408 | ||
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Binance USD predictions | 93.6% | 1 | $0.999732 | -0.05% | -0.05% | $8 061 861 044 | ||
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Polkadot predictions | 72.8% | 50 | $6.15 | -3.06% | 3.23% | $7 193 674 767 | ||
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Litecoin predictions | 70.4% | 58 | $87.97 | 7.97% | 12.03% | $6 381 945 113 |
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