Michael Barr, the head of the central bank's regulatory division, emphasized that the Federal Reserve is currently in the preliminary research stage and would require official legislation from Congress to formalize any action.
The company proudly announced that it stands among the pioneering major payment institutions to directly employ the Solana network for its settlement processes.
The Centre Consortium, co-operatively overseen by Circle and Coinbase, is currently in the process of being closed down. Consequently, Circle will be taking over the internal management of issuance and governance for the USDC stablecoin.
Circle CEO Jeremy Allaire has shown keen interest in establishing partnerships within the country following the implementation of new regulations concerning stablecoins.
A spokesperson for Circle announced that the company's reserve fund has made a strategic shift by divesting from Treasury bills with maturity dates beyond May 31. Instead, they have opted to reallocate assets into cash and overnight repurchase agreements.
FTX Ventures, Coinbase Ventures, Jump Crypto, a16z, and Circle Ventures were a few of the investors.
The company that makes USDC stablecoins has a venture capital arm that backed Nomad and Slope, which were both used this week.