Circle Is Committed To Leading The Way In Public Transparency
Circle CEO Jeremy ALLAIRE has unveiled a plan to increase USDC's transparency. He intends to publicly release USDC reserves and supporting documents.
Circle's co-founder and CEO stressed that public transparency is a necessity as large companies and financial institutions begin to deal with stablecoins. He also noted that this would bring more clarity to the reserves backing USDC, for which some have criticized Tether (USDT).
Circle's decision to increase transparency is likely to receive positive feedback from regulators who have raised concerns about stablecoins in the past. Other stablecoin firms are likely to follow Circle's lead in meeting the ever-increasing demands of regulators around the world.
Image: Coin Post
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