Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships

El viernes, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and community banks across the United States.

Contenido

Circle Partners With Atlanta-Based Citizens Trust Bank

The digital currency firm Círculo has announced that Atlanta-based Citizens Trust Bank, founded in 1947, will hold $65 million in usd coin (USDC) reserves. This move follows a series of announcements where Circle allocated funds to various U.S.-based financial institutions over the past year. Por ejemplo, Círculo fijado En abril 1, 2022, that BNY Mellon would hold USDC reserves, and in June, the Boston-based company Anunciado that New York Community Bancorp would hold USDC reserves.

Además, Círculo Anunciado last November that it is working with Blackrock to manage a portion of the USDC reserves in a fund registered with the U.S. Comisión Nacional del Mercado de Valores (SEGUNDO). “The opportunity to maintain a portion of Circle’s growing USDC reserves means we are strengthening our balance sheet and becoming a key part of fast-growing new markets,” Cynthia N. Day, the president and chief executive officer of Citizens Trust Bank said in a statement. Circle also announced on Friday that it will collaborate with Citizens Trust Bank to enhance financial literacy initiatives.

The company stated that it is developing plans to expand programming into the community through Atlanta’s historic HBCUs and local schools, with a launch event slated for this summer and a $100K seed grant from Circle. As of Feb. 24, 2023, Circle’s stablecoin USDC has an overall valuation of $42.66 billion and is the second-largest U.S. dollar-pegged cryptocurrency asset in terms of market capitalization. According to metrics recorded on Friday, the number of USDC coins in circulation has decreased by 2.7% sobre el último 30 días.

Etiquetas en esta historia
Atlanta, Hoja de balance, Blackrock, BNY Mellon, Círculo, Citizens Trust Bank, community banks, criptomoneda, cryptocurrency asset, Cynthia N. Day, Moneda digital, fast-growing markets, Instituciones financieras, financial literacy initiatives, HBCUs, launch event, local schools, Capitalización de mercado, MDIs, minority-owned depository institutions, New York Community Bancorp, SEGUNDO, seed grant, monedas estables, Estados Unidos, US dollar-pegged, moneda de usd, USDC

What do you think about Circle partnering with the Atlanta-based Citizens Trust Bank? Háganos saber lo que piensa sobre este tema en la sección de comentarios a continuación..

jamie redman

Jamie Redman es el líder de noticias en Bitcoin-Tidings.com News y un periodista de tecnología financiera que vive en Florida.. Redman ha sido un miembro activo de la comunidad de criptomonedas desde 2011. Él tiene una pasión por Bitcoin., código fuente abierto, y aplicaciones descentralizadas. Desde septiembre 2015, Redman ha escrito más de 6,000 artículos para Bitcoin-Tidings.com Noticias sobre los protocolos disruptivos que surgen hoy.




Créditos de imagen: Shutterstock, pixabay, Wiki Commons

Descargo de responsabilidad: Este artículo es solo para fines informativos.. No es una oferta directa o solicitud de una oferta para comprar o vender, o una recomendación o respaldo de cualquier producto, servicios, o empresas. Bitcoin-Tidings.com no proporciona inversión, impuesto, legal, o asesoramiento contable. Ni la empresa ni el autor son responsables, directa o indirectamente, por cualquier daño o pérdida causado o presuntamente causado por o en relación con el uso o la confianza en cualquier contenido, bienes o servicios mencionados en este artículo.

Leer Descargo de responsabilidad