Attestation

Proof of Reserves

... independent professional auditing firms to examine its bank accounts and issue attestation reports confirming the reserve balance. These audits follow established assuran...

Conclusion

...tinued development of robust regulatory frameworks, the maturation of audit and attestation practices, and the evolution of blockchain technology to address scalability an...

Abstract

...the straightforward mechanism of full reserve backing, with regular independent attestation by leading accounting firms providing public verification that outstanding toke...

Background

...he Ethereum blockchain. From launch, USDC differentiated itself through monthly attestation reports by Grant Thornton (later rotated among other major accounting firms), p...

Design Principles

...ility of its peg, not the return on its reserves. The reserves undergo monthly attestation by independent accounting firms, with reports published publicly on Circle's we...

Technology

...es. This open-source approach provides transparency that extends beyond reserve attestation to the technical layer, allowing the ecosystem to verify not just that USDC is ...

Reserve Management

...d US Treasuries. This transition was completed transparently, with each monthly attestation report disclosing the current reserve breakdown and demonstrating the shift tow...

Token Lifecycle

...ilitates a native burn-and-mint process: USDC is burned on the source chain, an attestation of the burn is generated, and equivalent USDC is minted on the destination chai...

Governance

... conducts periodic reviews of member compliance, examining regulatory standing, attestation participation, reserve management practices, and operational performance. Membe...

Conclusion

...institutions, provides the highest possible assurance of redeemability. Monthly attestation by independent accounting firms, with detailed public disclosure of reserve com...