As a stablecoin, USD Coin (USDC) is pegged to the value of the U.S. dollar. The reserves of currency upholding this value will only be cash and bonds going forward.

Circle reserves expanded beyond cash and cash equivalents in May, 2021, and the company provided a more detailed breakdown of reserve composition in July, adding clarity and insight into the funds backing USDC. Mindful of community sentiment, our commitment to trust and transparency, and an evolving regulatory landscape, Circle, with the support of Centre and Coinbase, has announced that it will now hold the USDC reserve entirely in cash and short duration US Treasuries.

Bitcoin payment processor OpenNode announced on Monday its integration with Substack, an online publishing platform. OpenNode will power both on-chain and Lightning Network Bitcoin payments.

Working together, OpenNode and Substack are starting by making instant, low cost payments available to a select group of crypto-focused publications. Readers will be able to use Bitcoin to pay for subscriptions to these select publications, and the publications will retain earnings in Bitcoin.