Circle claims to have essentially dismantled the entire USDC and repayment deficit

Circle claims to have essentially dismantled the entire USDC and repayment deficit

The USDC departure caused considerable turbulence on the market last week. The stable coin emittent Circle claimed that he had "essentially broken down the entire gap of embossing and withdrawal applications for USDC".

In a recently published declaration, Circle said that it was redeemed in the value of $ 3.8 billion during this period and shaped $ 800 million.

• The company with headquarters in Boston also went on March 14 with a new transaction bank partner for US inland transfers in live operation.
• Circle also announced that the next day there are also international cables from and to 19 countries with the same partner. The team assumes to "bring more functions online again this week".
• , emphasizing the events of the past week, which affected the liquidity operations for USDC, the company said:

"Circle has worked tirelessly to resume services with alternative banking partners, in particular payment and USDC insulation services. We would like to thank our customers for their patience in these unprecedented times."

• During an earlier update it became known that Cross River Bank is taken over as a commercial banking partner from Circle.
• In addition, the company also has "expanded relationships" with other banking partners to help with the redemption of USDC. This included the Bank of New York Mellon (BNY Mellon), which already offers custody services for the reserves of Circle.
• The Circle USDC is one of the leading stable coins of the market. After the USDC lost its $ 1-1 bond, it fell up to $ 0.88

.