Stable coin, USD Coin (USDC) from a bitcoin startup Circle is fully secured Vietnam the dollar, according to CoinDesk.
The test was conducted by Grant Thornton LLP, which is the U.S. unit of the international organization Grant Thornton International. The latter provides assurance, tax and Advisory services to private and public companies in 130 countries.
As at 31 October in the vaults of the Circle was 127 412 240,89 USD. This is slightly higher than the number of tokens in circulation at that time (127 408 827 USDC). Thus, if necessary, the company was able at the end of last month a lump sum to pay off all released tokens.
According to the Grant Thornton audit of the financial condition of Circle carried out in accordance with certification standards established by the American Institute of certified public accountants (AICPA).
Currently, according to CoinMarketCap, the appeal is 162,9 million tokens USDC.
Earlier audit reports published Gemini and Paxos, which is a Circle competitors in this segment of the cryptocurrency market.
Recall that in early November, their solvency was confirmed by the Tether company Ltd, which produces still the most popular stablon USDT. However, two weeks later the information appeared that the US Department of justice investigates possible manipulation by Tether and Bitfinex exchanges during the price rally of 2017.
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