Circle starts pouring money into its Reserve Fund, aims to fill it in 2023
The Circle Reserve Fund is managed by BlackRock under the custody of Bank of New York Mellon. Circle, the issuer behind USD Coin (UDSC), announced that it has now begun to invest part of its funds in Circle Reserve Fund, created earlier in a partnership with the world’s largest asset manager, BlackRock. The move came as a part of Circle’s effort to minimize risks and guarantee its holders the redeemability of their coins.According to a corporate blog post from Nov. 3, the Circle Reserve Fund is a registered Rule 2a-7 government money market fund managed by BlackRock, with a portfolio....
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The USDC issuer has started investing funds into its CRF (Circle Reserve Fund) to ensure that holders can redeem their coins when they want. Many crypto firms faced issues this 2022 due to the market crash. Some downsized, while others filed for bankruptcy. Generally, the entire market felt the impact of the crypto winter, and […]
According to the crypto firm Circle Internet Financial, the company is “deepening” its partnership with the world’s largest asset manager Blackrock. Circle disclosed that it has started to transfer USDC reserves into a Blackrock-managed fund that’s registered with the U.S. Securities and Exchange Commission (SEC). Circle Deepens Relationship With the World’s Largest Asset Manager Blackrock In mid-April 2022, Circle detailed that the company entered an investment agreement with Blackrock Inc., Fin Capital, Fidelity Management and Research, and Marshall Wace LLP. The investment was a....
On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to be “the most transparent and trusted dollar digital currency.”
Terra’s Stablecoin De-Pegging Incident Has Cast a Spotlight on the Entire Stablecoin Economy
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Start-up Circle Internet Financial is reportedly to sponsor the London CoinScrum bitcoin business networking event, according to a CoinDesk report. The event, which is slated to take place on January 21st in the UK capital city, is designed to allow entrepreneurs in bitcoin-related businesses to connect with each other, but also serves to be an educational experience to those who attend. Presentations from Circle's CEO Jeremy Allaire and CTO Sean Neville are expected, along with others. Circle Internet Financial is a Boston, Massachusetts-based venture that aims to "make money simpler,....
Circle Chief Evangelist Anders Brownworth, who previously taught blockchain technology at MIT, gave a presentation on day two of the 2017 MIT Bitcoin Expo in which he mainly focused on what Circle has been working on for the past few months. Circle is a mobile payments application that aims to make sending money to anyone in the world as easy as sending them a message via their mobile phone. During his talk, Brownworth noted that although Circle dropped the ability to buy and sell bitcoin in their mobile application late last year, the company still uses Bitcoin in the background of their....