Circle Web Monetary Restricted, the Boston-based issuer of the USDC stablecoin, mentioned Tuesday that it’ll discontinue minting providers for retail customers beginning Nov. 30
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Quick Information
- “We mint and redeem USDC for enterprise and institutional clients. This isn’t new information,” Circle said on X (previously Twitter). “In September 2021 we sundown a buyer app and are actually offboarding these legacy, particular person shopper accounts.”
- The agency mentioned that retail account holders could proceed redeeming USDC through Circle by Nov. 30 and that the stablecoin will stay accessible for retail customers by cryptocurrency exchanges or pockets providers.
- USDC’s US$24.7 billion market capitalization ranks second solely to Tether’s USDT, which has a market cap of over US$84.8 billion, in line with CoinMarketCap knowledge.
- On Tuesday, Tether reported US$3.2 billion of extra reserves backing its stablecoins in its third quarter attestation. The stablecoin issuer claimed to have US$86.4 billion in reserves in opposition to US$83.2 billion in liabilities.
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