{"id":17413,"date":"2023-03-16T02:32:07","date_gmt":"2023-03-16T02:32:07","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/"},"modified":"2023-03-16T02:32:09","modified_gmt":"2023-03-16T02:32:09","slug":"circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/","title":{"rendered":"Circle clears &#8216;substantially all&#8217; minting and redemption backlog for USDC"},"content":{"rendered":"<p><\/p>\n<div data-v-48054ca8=\"\">\n<p>Stablecoin issuer Circle has announced it has cleared &#8220;substantially all&#8221; of the backlog of redemption requests for its stablecoin USD Coin (USDC).<\/p>\n<p>In a March 15 operational update, Circle said between the morning of March 13 to the close of business on March 15, it had redeemed $3.8 billion USDC and minted $0.8 billion USDC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Update: As of close of U.S. banking operations Wednesday, March 15, we have cleared substantially all of the backlog of minting and redemption requests for USDC. Get the details: https:\/\/t.co\/5WEAgPps0E<\/p>\n<p>\u2014 Circle (@circle) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/circle\/status\/1636177961312301058?ref_src=twsrc%5Etfw\">March 16, 2023<\/a><\/p><\/blockquote>\n<p>Last week, Circle was hit with a bank run after disclosing it had $3.3 billion worth of stablecoin reserves in the now-collapsed Silicon Valley Bank that saw USDC lose its dollar peg.<\/p>\n<p>&#8220;The  events of the past week have impacted the liquidity operations for USDC,&#8221; Circle wrote, adding it has worked to &#8220;re-initiate services with alternative banking partners, particularly payment and USDC redemption services.&#8221;<\/p>\n<p><strong><em>Related: Recent contagion was \u2018TradFi to crypto\u2019 and not vice versa \u2014 Circle policy director<\/em><\/strong><\/p>\n<p>Circle said it went live with a new banking partner for United States wires on March 14 and used the same partner &#8220;for international wires to and from 19 countries&#8221; on March 15.<\/p>\n<p>It added it expected &#8220;to bring more capabilities&#8221; online by March 16. <\/p>\n<p class=\"post-content__disclaimer\">This is a developing story, and further information will be added as it becomes available.\n<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoin issuer Circle has announced it has cleared &#8220;substantially all&#8221; of the backlog of redemption requests for its stablecoin USD Coin (USDC). In a March 15 operational update, Circle said between the morning of March 13 to the close of business on March 15, it had redeemed $3.8 billion USDC and minted $0.8 billion USDC. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-17413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Circle clears &#039;substantially all&#039; minting and redemption backlog for USDC | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Circle clears &#039;substantially all&#039; minting and redemption backlog for USDC | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Stablecoin issuer Circle has announced it has cleared &#8220;substantially all&#8221; of the backlog of redemption requests for its stablecoin USD Coin (USDC). In a March 15 operational update, Circle said between the morning of March 13 to the close of business on March 15, it had redeemed $3.8 billion USDC and minted $0.8 billion USDC. [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/\" \/>\n<meta property=\"og:site_name\" content=\"NFT &amp; Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-16T02:32:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-16T02:32:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/\"},\"author\":{\"name\":\"Staff\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792\"},\"headline\":\"Circle clears &#8216;substantially all&#8217; minting and redemption backlog for USDC\",\"datePublished\":\"2023-03-16T02:32:07+00:00\",\"dateModified\":\"2023-03-16T02:32:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/\"},\"wordCount\":230,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg\",\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/\",\"url\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/\",\"name\":\"Circle clears 'substantially all' minting and redemption backlog for USDC | NFT &amp; Crypto News\",\"isPartOf\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg\",\"datePublished\":\"2023-03-16T02:32:07+00:00\",\"dateModified\":\"2023-03-16T02:32:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#primaryimage\",\"url\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg\",\"contentUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg\",\"width\":1200,\"height\":799},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nftandcrypto-news.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Circle clears &#8216;substantially all&#8217; minting and redemption backlog for USDC\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#website\",\"url\":\"https:\/\/nftandcrypto-news.com\/\",\"name\":\"NFT &amp; Crypto News\",\"description\":\"Latest NFT and Crypto News\",\"publisher\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nftandcrypto-news.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#organization\",\"name\":\"NFT & Crypto News\",\"url\":\"https:\/\/nftandcrypto-news.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2022\/02\/nft-logo-dark-1.png\",\"contentUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2022\/02\/nft-logo-dark-1.png\",\"width\":844,\"height\":205,\"caption\":\"NFT & Crypto News\"},\"image\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792\",\"name\":\"Staff\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f1725824bb0aca42c3c5b57f7a3adb20?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f1725824bb0aca42c3c5b57f7a3adb20?s=96&d=mm&r=g\",\"caption\":\"Staff\"},\"sameAs\":[\"https:\/\/nftandcrypto-news.com\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Circle clears 'substantially all' minting and redemption backlog for USDC | NFT &amp; Crypto News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/","og_locale":"en_US","og_type":"article","og_title":"Circle clears 'substantially all' minting and redemption backlog for USDC | NFT &amp; Crypto News","og_description":"Stablecoin issuer Circle has announced it has cleared &#8220;substantially all&#8221; of the backlog of redemption requests for its stablecoin USD Coin (USDC). In a March 15 operational update, Circle said between the morning of March 13 to the close of business on March 15, it had redeemed $3.8 billion USDC and minted $0.8 billion USDC. [&hellip;]","og_url":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/","og_site_name":"NFT &amp; Crypto News","article_published_time":"2023-03-16T02:32:07+00:00","article_modified_time":"2023-03-16T02:32:09+00:00","og_image":[{"width":1200,"height":799,"url":"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg","type":"image\/jpeg"}],"author":"Staff","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Staff","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#article","isPartOf":{"@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/"},"author":{"name":"Staff","@id":"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792"},"headline":"Circle clears &#8216;substantially all&#8217; minting and redemption backlog for USDC","datePublished":"2023-03-16T02:32:07+00:00","dateModified":"2023-03-16T02:32:09+00:00","mainEntityOfPage":{"@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/"},"wordCount":230,"commentCount":0,"publisher":{"@id":"https:\/\/nftandcrypto-news.com\/#organization"},"image":{"@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#primaryimage"},"thumbnailUrl":"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg","articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/","url":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/","name":"Circle clears 'substantially all' minting and redemption backlog for USDC | NFT &amp; Crypto News","isPartOf":{"@id":"https:\/\/nftandcrypto-news.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#primaryimage"},"image":{"@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#primaryimage"},"thumbnailUrl":"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg","datePublished":"2023-03-16T02:32:07+00:00","dateModified":"2023-03-16T02:32:09+00:00","breadcrumb":{"@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#primaryimage","url":"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg","contentUrl":"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg","width":1200,"height":799},{"@type":"BreadcrumbList","@id":"https:\/\/nftandcrypto-news.com\/crypto\/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nftandcrypto-news.com\/"},{"@type":"ListItem","position":2,"name":"Circle clears &#8216;substantially all&#8217; minting and redemption backlog for USDC"}]},{"@type":"WebSite","@id":"https:\/\/nftandcrypto-news.com\/#website","url":"https:\/\/nftandcrypto-news.com\/","name":"NFT &amp; Crypto News","description":"Latest NFT and Crypto News","publisher":{"@id":"https:\/\/nftandcrypto-news.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nftandcrypto-news.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/nftandcrypto-news.com\/#organization","name":"NFT & Crypto News","url":"https:\/\/nftandcrypto-news.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nftandcrypto-news.com\/#\/schema\/logo\/image\/","url":"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2022\/02\/nft-logo-dark-1.png","contentUrl":"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2022\/02\/nft-logo-dark-1.png","width":844,"height":205,"caption":"NFT & Crypto News"},"image":{"@id":"https:\/\/nftandcrypto-news.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792","name":"Staff","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f1725824bb0aca42c3c5b57f7a3adb20?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f1725824bb0aca42c3c5b57f7a3adb20?s=96&d=mm&r=g","caption":"Staff"},"sameAs":["https:\/\/nftandcrypto-news.com"]}]}},"jetpack_featured_media_url":"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/6de0ec6e-eb99-466e-b4e4-76b901a45d7b.jpg","_links":{"self":[{"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/posts\/17413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/comments?post=17413"}],"version-history":[{"count":1,"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/posts\/17413\/revisions"}],"predecessor-version":[{"id":17415,"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/posts\/17413\/revisions\/17415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/media\/17414"}],"wp:attachment":[{"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/media?parent=17413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/categories?post=17413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nftandcrypto-news.com\/wp-json\/wp\/v2\/tags?post=17413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}