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Circle Reveals 3rd Party Audit Report Of Its USD Pegged Stablecoin USDC ‘USD Coin’.

In line with a recent ‘official web-blog‘ post published, Goldman Sachs ‘backed‘ cryptocurrency finance startup named ‘Circle’ has revealed the new 3rd party ‘audit report‘ of its USD-pegged stablecoin, named USDC [USD Coin].

Stablecoin ‘USDC’ is an Ethereum [ETH] based ‘ERC20’ token compliant with the Ethereum blockchain was 1st declared in the month of May last year and was ‘launched‘ later in September.

As per this week’s announcement, the audit of the coin’s standard fiat reserves was conducted by renowned Chicago-based accounting firm named ‘Grant Thornton LLP’.

The stabelcoin report ‘published‘ by the firm adds that as  on 30th April, 2019 at 11:59 p.m., Pacific Time there were 293,184,174 USDC issued, and there were $293,351,374 within the firm’s reserves. Moreover, the auditing firm claims that, at the same time, the issued and outstanding USDC tokens didn’t exceed the balance of the USD held in custody.

In line with ‘CoinMarketCap‘, USDC’s market cap presently exceeds $359 Mln and is up about 40% from the worth it reported a month earlier.

Earlier in April, lawyers from the firm behind USD stablecoin Tether [USDT] ‘published‘ that the coin solely has enough cash to back three-quarters of its increasing supply.

Just yesterday, social media giant ‘Facebook‘ has evidently ‘formed‘ a new financial tech firm named ‘Libra Networks LLC’, presumptively to work on its ‘upcoming‘ stablecoin project.

Also, Francois Villeroy de Galhau, the governor of the Bank of France, mentioned his interest in stablecoin’, ‘adding‘ that the bank is “observing [the developments] with great interest.”

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