Independent Accounting Firm Grant Thornton LLP Issues Attestation Report on US Dollar Reserves Backing USDC Tokens in Circulation

Today, Circle released the first attestation report on US dollar reserves backing USDC issued by independent accounting firm, Grant Thornton LLP. The report states that as of October 31, 2018 at 11:59 PM UTC:

• USD Coin (“USDC”) tokens issued and outstanding = 127,408,827 USDC
• US Dollars held in custody accounts = $127,412,240.89
• The issued and outstanding USDC tokens do not exceed the balance of the US Dollars held in custody accounts

You can read the full report here. Grant Thornton LLP will provide USDC attestation reports on Circle’s USDC reserves on a monthly basis.

Originally published at blog.circle.com on November 21, 2018.