USD Coin Circulation Increased by 300 Million Units
The stablecoin reached 74.6 billion units in circulation as reserves grew to $74.8 billion.
Updated on Sept. 25, 2026 in Saving
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Circle added 300 million units to its USD Coin circulation during the week ending September 21, 2026. This net growth occurred as the issuer processed 10.1 billion units in issuances against 9.8 billion in redemptions.
Why it matters
Total reserves backing these digital assets reached $74.8 billion, creating a $200 million surplus relative to the 74.6 billion units in circulation. This reserve position provides a window into the liquidity backing the tokens that households may use in digital asset portfolios.
Total USDC circulation hit 74.6 billion units, backed by $74.8 billion in reserve assets. This reserve pool includes $41.2 billion in overnight reverse Treasury repos and $26.5 billion in short-term Treasury securities.
The players
Circle
The issuer of the USD Coin stablecoin which maintains reserve assets in Treasury securities and bank deposits.
The details
The change in circulation stems from the difference between the 10.1 billion units issued and the 9.8 billion units redeemed by users during the seven-day period. Reserves are held in a mix of cash equivalents, including deposits at systemically important institutions totaling $5.9 billion and other bank deposits of $1.2 billion. These assets serve as the primary backing for the digital tokens, which are designed to maintain a consistent value for holders.
Timeline
The 300 million unit increase in circulation occurred during the week ending September 21, 2026.
Money Landscape
This growth in circulation follows the ongoing transparency practices set by the SEC disclosure requirements for stablecoin issuers. The current figures update the total asset backing levels previously established under these reporting standards.
Households holding digital assets should track these reserve updates to understand the liquidity backing their holdings. Consult with a qualified financial professional to determine how these assets fit into your overall risk management and savings strategy.
The takeaway
The stablecoin circulation expanded as reserve assets remained higher than the total units in existence. Monitor these periodic reports if you hold these assets to stay informed on the liquidity backing your digital wallet balance.
Further reading
For more on managing digital liquid assets, visit Saving.
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Do you trust that stablecoins are fully backed by their reported reserve assets?
