Circle starts pouring money into its Reserve Fund, aims to fill it in 2023
Cointelegraph
Published Nov 04, 2022 05:31AM ET
Updated Nov 05, 2022 07:40AM ET
Circle, the issuer behind USD Coin (UDSC), announced that it has now begun to invest part of its funds in Circle Reserve Fund, created earlier in a partnership with the world’s largest asset manager, BlackRock (NYSE:BLK). The move came as a part of Circle’s effort to minimize risks and guarantee its holders the redeemability of their coins.
According to a corporate blog post from Nov. 3, the Circle Reserve Fund is a registered Rule 2a-7 government money market fund managed by BlackRock, with a portfolio consisting of cash and short-dated U.S. Treasurys.
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Written By: Cointelegraph
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