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(USDC) issuer Circle plans to make use of “company sources” to cowl the shortfall on its reserves following Silicon Valley Financial institution’s (SVB) shutdown, the corporate stated in a press release on March 11.
In keeping with Circle, USDC liquidity operations will “resume as regular when banks open on Monday morning in the USA,“ enabling USDC redemption at 1:1 with the U.S. greenback.
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