Circle: Citizens Trust Bank will hold a cash reserve of 65 million USDC

ChainCatcher news, stablecoin issuer Circle announced a partnership with Citizens Trust Bank, which will hold $65 million in USDC cash reserves. In addition, the two parties will collaborate on financial inclusion and digital financial literacy. It is reported that Circle has committed to allocating a portion of its USDC dollar-denominated reserves to minority depository institutions (MDIs) and community banks across the country.

Furthermore, Circle and Citizens Trust Bank also plan to expand their collaboration to the Atlanta community, focusing on financial inclusion and digital financial literacy programs for their clients. The program is currently in preparation and will hold a launch event this summer. Circle will also provide a seed grant of $100,000 for this initiative. (Source link)