Categories
News

Circle says $3.3 billion USDC reserve to be fully available on Monday

(Reuters) – U.S. cryptocurrency firm Circle said on Sunday its $3.3 billion USDC reserve deposit held at the collapsed Silicon Valley Bank will be fully available when U.S. banks open Monday.

Illustration shows word "Crypto" and stock graph

(Reuters) – U.S. cryptocurrency firm Circle said on Sunday its $3.3 billion USDC reserve deposit held at the collapsed Silicon Valley Bank will be fully available when U.S. banks open Monday.

“Circle’s USDC operations will open for business, including with new automated settlement via our new partnership with Cross River Bank,” Chief Executive Officer Jeremy Allaire said in a tweet.

(Reporting by Akriti Sharma in Bengaluru; Editing by Sonali Paul and Rashmi Aich)

By Reuters

Reuters, part of Thomson Reuters, is the largest international multimedia news provider in the world with a daily audience of more than one billion. Through Thomson Reuters desktops, the world's media organizations, and Reuters.com and Reuters TV, Reuters provide trusted business, financial, and national news to professionals and consumers alike.