UPDATE: The ultimate goal is for BlackRock to put its new Circle fund with the federalreserve, says Circle CFO jfg_circle. jesseahamilton reports
stablecoin into a dedicated fund set up by BlackRock and registered with the U.S. Securities and Exchange Commission, the company disclosed Thursday.– a government money market fund managed by BlackRock Advisors – has been in the works for months after BlackRock initially sought to register it in May. Circle will be its only eligible investor, and the stablecoin issuer has already started putting its reserves there, expecting to be “fully transitioned” by the end of March.
But that's a temporary measure, he explained, because the ultimate goal is for BlackRock to apply – in time – to get the fund into the These efforts will"improve the risk profile and oversight and the disclosures around USDC reserve," he said.$44.1 billion in cash and short-term U.S. government bonds The assets will be held at the Bank of New York Mellon, according to Circle, where the fund will be subject to regulation under the Investment Company Act of 1940, which requires an independent board and daily reports on the portfolio., the world’s biggest asset manager, when the firm invested in Circle’s funding round announced in April.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Stablecoin issuers Circle and Paxos gain approvals in SingaporeStablecoin issuers Circle and Paxos have received a license to offer their digital asset products to Singapore-based investors. The approval came after the Monetary Authority of Singapore eased regulatory barriers for applicants last week.
Consulte Mais informação »
Singapore Grants Stablecoin Issuer Circle In-Principle License to Offer Payment ProductsStablecoin issuer Circle received an in-principle licence from Singapore to offer payment products, the same day Paxos received a similar licence. nikhileshde reports.
Consulte Mais informação »
Circle and Paxos Secure Regulatory Approval in SingaporeThe latest crypto companies to obtain licenses from Singapore's financial regulator are Circle and Paxos.
Consulte Mais informação »
Singapore Regulator Grants Licenses to Stablecoin Issuers Circle and PaxosThe Monetary Authority of Singapore (MAS) has granted stablecoin issuer Circle an in-principle license that allows it to operate as a payments company in the country. Circle received its approval the same day fellow stablecoin issuer Paxos received its own license. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses the significance for the regulatory framework in Singapore.
Consulte Mais informação »