![USDC Issuer Circle Has Ditched All U.S. Treasuries From Stablecoin USDC Issuer Circle Has Ditched All U.S. Treasuries From Stablecoin Reserve Fund Amid Debt Ceiling Showdown](https://btcusa.com/wp-content/uploads/2023/05/USDC-Issuer-Circle-Has-Ditched-All-US-Treasuries-From-Stablecoin-678x381.jpg)
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These volumes are also made up of remittance transfers, a big deal for emerging markets with a large diaspora, such as the Philippines. In the report, Circle highlighted how it has partnered with Coins.ph – an exchange based in the country – to try and capture some of this business, worth around $36 billion a year.
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