USDC circulation increased by about 1 billion in the past 7 days

PANews reported on August 29 that, according to official data, in the 7 days ending August 27, Circle issued approximately 11.2 billion USDC and redeemed approximately 10.2 billion USDC, with circulating supply increasing by about 1 billion coins. The total circulating supply of USDC is 73.7 billion coins, with reserves of approximately $74 billion, of which about $49.6 billion is in overnight reverse repurchase agreements on Treasuries; about $13.2 billion is in Treasury securities with maturities of less than 3 months; about $10.5 billion is in deposits at systemically important institutions; and about $700 million is in other bank deposits.