1. PixelPlaygroundHome
  2. Metaverse Insights

Circle Works to Restore Liquidity Operations of USDC

• Metaverse Insights • 101 views

Circle Works to Restore Liquidity Operations of USDC

as report goes, Circle, the stable currency issuer of USDC, stated in a blog post: “Since the collapse of Signature Bank and Silvergate Bank, our team has been working around the clock to restore the liquidity operations of USDC, including the introduction of new trading banking partners. We started processing casting and redemption requests on Monday morning, March 13th local time, when the US banking system reopened and is currently processing a backlog of requests. We have more work to do here, including adding a 24/7/3 “On March 13, local time, Circle redeemed $2.9 billion of USDC and forged $700 million of USDC as a new trading banking partner with 65 functionality.”

Circle: Efforts are being made to restore USDC’s liquidity operations, including the introduction of new trading banking partners

Analysis based on this information:


In a recent blog post, Circle, the stable currency issuer of USDC, reported that its team has been working tirelessly to restore the liquidity operations of USDC following the collapse of Signature Bank and Silvergate Bank. The company stated that it has been introducing new trading banking partners and processing casting and redemption requests since March 13th when the US banking system reopened.

Circle has been processing a backlog of requests in an effort to restore liquidity operations of USDC, which suffered a setback following the collapse of its partner banks. The company has been working to introduce new trading banking partners to ensure that it can meet the demand for USDC and provide its users with a stable and reliable digital currency.

On March 13th, Circle redeemed $2.9 billion of USDC and forged $700 million of USDC as a new trading banking partner with 65 functionality. The company has more work to do in this area, including adding a 24/7/3 functionality, which will help to ensure that users can access USDC at any time.

The collapse of Signature Bank and Silvergate Bank was a significant blow to Circle and to the wider cryptocurrency industry. However, Circle has demonstrated its resilience and commitment to restoring the liquidity operations of USDC. The company’s efforts to introduce new trading banking partners and process casting and redemption requests are indicative of its determination to continue providing a stable and reliable digital currency.

USDC has become increasingly popular in recent years as more people seek to invest in cryptocurrencies. As a stablecoin, USDC is designed to provide stability and predictability, which makes it an attractive investment option for many people. However, the collapse of Signature Bank and Silvergate Bank highlighted the importance of ensuring that the stablecoin’s liquidity operations are robust and reliable.

In conclusion, Circle’s efforts to restore the liquidity operations of USDC are commendable. The company has shown resilience and determination in the face of adversity and has demonstrated its commitment to providing a stable and reliable digital currency for its users. With the introduction of new trading banking partners and a 24/7/3 functionality, Circle is well-positioned to continue providing USDC to investors and users around the world.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/7077/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/15/2023 02:58
Next 03/15/2023 03:07

Recommended articles