Question 1

Is USDC fully backed?

Accepted Answer

Yes. USDC is backed 1:1 by U.S. dollar-denominated assets, primarily short-dated U.S. Treasury securities and cash deposits at regulated financial institutions. Monthly attestation reports from Deloitte & Touche LLP verify that reserves meet or exceed the amount of USDC in circulation.

Question 2

What are USDC reserves made of?

Accepted Answer

USDC reserves consist of U.S. Treasury repurchase agreements (overnight repos), short-dated U.S. Treasury securities (maturing within 3 months), cash held in the BlackRock-managed Circle Reserve Fund, and cash deposits at systemically important financial institutions.

Question 3

Who audits USDC reserves?

Accepted Answer

Deloitte & Touche LLP performs monthly attestation examinations of USDC reserves under AICPA attestation standards. Reports are published publicly and verify that the fair value of reserves meets or exceeds USDC in circulation.

Question 4

How often are USDC reserves verified?

Accepted Answer

USDC reserves are verified monthly by Deloitte & Touche LLP, with two report dates per month. Weekly disclosures of reserve assets, minting, and redemption activity are also published.

Question 5

Which blockchains have USDC?

Accepted Answer

USDC is natively available on 29+ blockchains including Ethereum, Solana, Base, Arbitrum, Polygon, Optimism, Avalanche, Tron, Stellar, and more. The largest concentrations are on Ethereum and Solana.

USDC Reserves & Transparency