Circle Taps New York Community Bank as its Latest Custodian for USDC Reserves

Circle has selected a New York-based community bank to be its new custodian for USDC reserves. Circle is working to strengthen partnerships with Community Banks in the U.S. to provide more equitable payments to those most in need.

The two parties worked together to build bridges between legacy and digital capital markets, as well as “the exploration of digital cash for purposes of settlement.” They worked together to build bridges between digital and legacy capital markets, and to explore digital cash for settlement purposes.

“By partnering NYCB, we open up new avenues for community banks and MDIs across America to participate in the rapidly growing digital assets market.

Circle’s USDC saw an increase in net flows despite extreme volatility dominating crypto markets. USDC is the fourth largest cryptocurrency, with a market capital of almost $56 billion. It holds only cash and U.S. short-term government bonds to support its 1:1 peg against the U.S. Dollar. This conservative strategy prioritizes stability and compliance to regulators.
Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami