Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds By Cointelegraph
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(USDC) issuer Circle plans to use “corporate resources” to cover the shortfall on its reserves following Silicon Valley Bank’s shutdown, said the company in a statement on March 11.
According to Circle, USDC liquidity operations will “resume as normal when banks open on Monday morning in the United States,” enabling USDC redemption at 1:1 with the U.S. dollar.
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(USDC) issuer Circle plans to use “corporate resources” to cover the shortfall on its reserves following Silicon Valley Bank’s shutdown, said the company in a statement on March 11.
According to Circle, USDC liquidity operations will “resume as normal when banks open on Monday morning in the United States,” enabling USDC redemption at 1:1 with the U.S. dollar.
Continue Reading on Coin Telegraph
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