Circle developed the Cross-Chain Transfer Protocol (CCTP) to enable native USDC transfers between blockchains via a burn-and-mint mechanism. While USDC was already issued on multiple chains, CCTP removes the need for bridges and wrapped tokens like USDC.e, improving security and interoperability.
Reserve Composition: USDC is fully backed by a mix of cash and short-term U.S. Treasury bills. The majority of reserves are held in the Circle Reserve Fund, a SEC-registered money market fund managed by BlackRock and custodied by BNY Mellon. The remaining reserves are held in cash at regulated banking institutions. These allocations may vary over time, and the most accurate and up-to-date figures can be found in Circle’s official reserve attestations.
USDC’s economic model is based on earning interest from the cash and U.S. Treasury reserves backing the stablecoin.
Circle developed the Cross-Chain Transfer Protocol (CCTP) to enable native USDC transfers between blockchains via a burn-and-mint mechanism. While USDC was already issued on multiple chains, CCTP removes the need for bridges and wrapped tokens like USDC.e, improving security and interoperability.
Reserve Composition: USDC is fully backed by a mix of cash and short-term U.S. Treasury bills. The majority of reserves are held in the Circle Reserve Fund, a SEC-registered money market fund managed by BlackRock and custodied by BNY Mellon. The remaining reserves are held in cash at regulated banking institutions. These allocations may vary over time, and the most accurate and up-to-date figures can be found in Circle’s official reserve attestations.
USDC’s economic model is based on earning interest from the cash and U.S. Treasury reserves backing the stablecoin.
