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Circle starts pouring money into its Reserve Fund, aims to fill it in 2023

Published 11/04/2022, 05:31 AM
Updated 11/05/2022, 07:40 AM
Circle starts pouring money into its Reserve Fund, aims to fill it in 2023

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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