Circle taps Cross River as banking partner, expands ties with BNY

During the weekend, Circle announced that 100% of USDC reserves are safe and secure.

In addition, Circle has established"expanded relationships" with other banking partners to assist with USDC redemption, including Bank of New York Mellon , which already provides custody services for Circle's reserves.to the dollar, falling below 90 cents early on Saturday before a series of moves by banks and regulators restored confidence in the token. As of midnight Sunday, USDC had recovered and was trading at near exact parity with the U.S. dollar.

During the weekend, Circle put out a press release confirming that 100% of USDC reserves are safe and secure, and they will complete their transfer for the remaining Silicon Valley Bank cash to BNY Mellon, and liquidity operations for USDC will resume at banking open today.

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