Home / Crypto News / Circle (Circle) Inc. Independent accounting organization entrusted USD Coin's peg situation audit

Circle (Circle) Inc. Independent accounting organization entrusted USD Coin's peg situation audit

Circle (Circle), which is known for US dollar peg type coin · USD Coin ($ USDC) and other crypto asset investment related services, has found out that independent accounting institution entrusted USDC peg audit .

Grant Thornton LLP, which Circle has entrusted its audit work, is a leading accounting institution located in the world by 6th in terms of business income and 6th in the US on a company scale.

Under the cooperation of Thornton LLP, Circle Corporation plans to release monthly the evidence that the balance between the number of USDC issued and the US dollar that guarantees it is maintained (attestation) .

According to the two companies, it is reported that the USDC issued by Circle Corporation as of 31st October this year was 127,408,827 , and the US dollar stored in the custody account was 127,412,240.89 dollars .

Circle is not the first time to publish security coins’ security certificates on a monthly basis, and Paxos Standard ($ PAX) , which is the same US dollar peg type stable coin, already adopts the same policy.

In addition to USDC and PAX, the new Gemini USD ($ GUSD) also regularly posted evidence of the collateral situation and is expected to shift to monthly disclosure in a pursuit of Circle and Paxos in the future I will.

In the stable coin world, considering the fact that the pet collapse of Tether (tether / $ USDT) and token invalidation treatment occurred earlier this month, it is considered that attention is gaining great attention to the transparency of auditing.

Article source etc:

  • Statement on partnership between Thornton LLP and Circle (English)
  • Report published by Thornton in November (English)

Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/grant-thornton-llp-to-issue-attestation-reports-for-usdc/

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