Goldman Sachs-backed crypto finance startup Circle has printed the newest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). The corporate reported the replace in a weblog publish printed on Could 17.

USD Coin is an Ethereum-based token compliant with the ERC20 normal that was first introduced in Could final 12 months and launched in September.

Per this week’s announcement, the audit of the coin’s fiat reserves was carried out by main Chicago-based accounting agency Grant Thornton LLP.

The report launched by the agency states that as of April 30, 2019 at 11:59 p.m. Pacific Time there have been 293,184,174 USDC issued, and that there have been $293,351,374 within the agency’s reserves. Lastly, the auditing agency claims that, on the time specified above, the issued and excellent USDC tokens didn’t exceed the stability of the U.S. {dollars} held in custody.

In accordance with CoinMarketCap information, USDC’s market cap at present exceeds $359 million and is up over 40% from the worth it reported a month in the past.

On the finish of April, legal professionals from the corporate behind USD stablecoin tether (USDT) reported that the coin solely has sufficient money to again three-quarters of its growing provide.

As Cointelegraph reported yesterday, social media big Fb has evidently fashioned a brand new monetary tech agency, Libra Networks LLC, presumably to work on its rumored stablecoin.

Earlier this week, Francois Villeroy de Galhau, the governor of the Financial institution of France,expressed curiosity in stablecoins, stating that the financial institution is “observing [the developments] with nice curiosity.”



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