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cryptonews
2023-03-12 09:53:00

Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD

Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD

USDC issuer Circle has pledged to cover any shortfall in the stablecoin's reserves if it does not receive the entirety of the $3.3 billion held at now-collapsed Silicon Valley Bank. In a Saturday blog post, Circle said that the company is prepared to cover any shortfall in the USDC reserves that materialize from their exposure to SVB using corporate resources, which might even involve external capital.... Read More: Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD

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