[miohtama]

I think your information is somewhat outdated. For example, paying on USDC using Solana or Avalanche networks

- Fee is less than 10c, less then a debit card

- USDC is backed by US Treasury notes, making it more solid than deposit in a bank

- There is no volatility risk of the cryptocurrency

- USDC follows US court orders for crime and money laundering cases

https://solberginvest.com/blog/how-much-are-solana-fees/

[dmitriid]

> I think your information is somewhat outdated. For example, paying on USDC using Solana or Avalanche networks

As always with cryptocurrencies, "you're using the wrong cryptocurrency" as if the absolutely dominant ones, Bitcoin and Ethereum don't exist and aren't much more likely to be used than whatever the darling du jour is.

> USDC is backed by US Treasury notes, making it more solid than deposit in a bank

They are "backed" as much as Tether is "backed". To quote, "Circle claims that each USDC is backed by a dollar held in reserve, or by other 'approved investments', though these are not detailed. The wording on the Circle website changed from the previous 'backed by US dollars' to 'backed by fully reserved assets' by June 2021".

[miohtama]

This from the latest GrantThompson USDC report:

> Segregated accounts are defined by the Company as unencumbered accounts of the Company which are eligible to fulfill the Company’s obligations under the statutes and regulations applicable to the Company as a money transmitter licensed in various US states and territories. Such accounts are held at US regulated financial institutions, limited to cash and short-dated U.S. government obligations, and are segregated from other accounts of the Company, including general corporate funds.

So the assets backing are cash and treasury notes.

I am not saying Circle is not lying, but them lying this close to IPO is very unlikely, so you are very likely incorrect.