# Circle USDC: Live Peg, Issuer & Licences

> Circle USDC stablecoin: live USD peg deviation in bps, depeg history, issuer Circle, licences linked to official registers, reserves and FAQ.

Canonical: https://stableradar.com/coin/usdc
Generated: 2026-11-13T12:43:35.062Z (live figures are a snapshot at build time; see the canonical page for current values)

Stablecoin profile LIVE

# Circle USDC stablecoin
**In short:** USDC is a USD-pegged stablecoin issued by Circle. Token authorisation on record: EU (MiCA EMT). Below: live peg deviation, peg history, issuer, licences and FAQ.

[Issuer profile → Circle](https://stableradar.com/issuer/circle)

$0.9997

Peg target: $1.0000 (USD)

On peg

Deviation: **-3.3 bps** (-0.03%) · Market cap: $69.05B

Sources: CoinGecko, DefiLlama · [CoinGecko ↗](https://www.coingecko.com/en/coins/usd-coin) · Median of the available sources, refreshed in your browser. A deviation here is not a confirmed depeg.

### Token legal status
USDC

Regulator-confirmed token authorisation

(1) Entity licence / registration

Circle Internet Financial Europe SAS (LEI 969500OYUDADGZKCR583)

ACPR · Electronic money institution

esma.europa.eu ↗

(2) Authorisation to issue this token

EU (MiCA EMT)

ESMA EMT register row; white paper circle.com/fr/legal/mica-usdc-whitepaper

esma.europa.eu ↗

(3) Applicable law

MiCA — Regulation (EU) 2023/1114 ↗

GENIUS Act — OCC final rule FR 2026-21706 (effective 18 Jan 2027) ↗

Related records

source ↗

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source ↗

Token legal status last checked: 1 Nov 2026

### Issuer & legal entity
- Issuer **Circle**

- Legal entity Circle Internet Financial, LLC (outside the EU); Circle Internet Financial Europe SAS (EU) [Source: EBA press release, 14 Oct 2026. ↗](https://www.eba.europa.eu/publications-and-media/press-releases/eba-classifies-usdc-first-significant-e-money-token-european-union)

- Headquarters New York / Boston, US

- Backing mechanism Fiat-backed (USD, EUR)

- Reserve mix Circle Reserve Fund (USDXX: T-bills, repo) + cash at banks (per Circle)

- Reserves & attestation Monthly attestation by Deloitte & Touche LLP [circle.com ↗](https://www.circle.com/transparency)

- Custody BNY Mellon (custody); Circle Reserve Fund managed by BlackRock (per Circle)

- Redemption 1:1 redemption via Circle Mint for institutional customers; MiCA: redemption at par without fee for EU holders of EMTs

Transparency Score (issuer)

Transparency Score

Weighted from public, sourced inputs · 94% of inputs available

Not legal advice; algorithmic assessment from public sources.

Our opinion based on public data as of 12 Nov 2026. Not a regulatory decision or a credit rating.

[Issuer profile → Circle](https://stableradar.com/issuer/circle)

### Issuer licences, registrations & token status
Issuer-level records from the Circle profile; each row links to the official register or source.

| Jurisdiction | Record | Status | Source |
| --- | --- | --- | --- |
| US | National trust bank charter No. 25361 — First National Digital Currency Bank, N.A., operating under the name Circle National Trust (per company); charter 25361 confirmed on OCC list “Trust Banks Active As of 10/31/2026”, last checked 2026-11-13 · OCC | Authorizedas of 31 Oct 2026 (charter 25361) | [Verified](https://www.occ.gov/topics/charters-and-licensing/financial-institution-lists/trust-by-name.pdf) |
| US-NY | Limited-purpose trust company — Circle Internet Trust Company LLC d/b/a Circle New York Trust (NYDFS regulated entities list: Limited Purpose Trust Charter, granted 2026-07; checked 2026-11-13) · NYDFS | AuthorizedJul 2026 | [Verified](https://www.dfs.ny.gov/virtual_currency_businesses) |
| US-NY | Virtual Currency and Money Transmitter Licenses — Circle Internet Financial, LLC (NYDFS regulated-entities list) · NYDFS | Authorized2015-09 | [Verified](https://www.dfs.ny.gov/virtual_currency_businesses) |
| US | Money transmitter licences — 46 states + DC + PR; FinCEN MSB — Circle Internet Financial, LLC, NMLS #1201441 · State regulators / FinCEN | Authorized | [Reported](https://www.circle.com/legal/licenses) |
| EU-FR | Electronic Money Institution No. 17788 — Circle Internet Financial Europe SAS (LEI 969500OYUDADGZKCR583), EMT issuer (USDC, EURC) under MiCA; white papers: circle.com/fr/legal/mica-usdc-whitepaper, /mica-eurc-whitepaper. EBA classified USDC as the first significant EMT (14 Oct 2026): EBA prudential supervision from 12 Nov 2026, ACPR keeps governance · ACPR | AuthorizedMiCA since 1 Jul 2024 | [Verified](https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv) |
| EU-FR | MiCA CASP authorisation No. E2026-005 — services (a) custody, (j) transfer; passported to 29 EEA states · AMF | Authorized23 Apr 2026 (ESMA register); 24 Apr 2026 per Circle | [Verified](https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv) |
| SG | Major Payment Institution No. PS20200630 — Circle Internet Singapore Pte. Ltd. (MAS directory: Account Issuance, Domestic & Cross-border Money Transfer, Digital Payment Token Service; archived 17 Apr 2026; last checked 2026-11-01; MAS record shown in the token legal-status card) · MAS | Authorized | [Reported](https://www.circle.com/legal/licenses) |
| BM | Digital Asset Business licence No. 54786 · BMA | Authorized | [Reported](https://www.circle.com/legal/licenses) |
| UK | E-money institution No. 900480 · FCA | Authorized | [Reported](https://www.circle.com/legal/licenses) |
| AE-ADGM | Financial Services Permission No. 250035 — Circle Internet MEA Ltd (FSRA public register; checked 2026-11-13) · FSRA (ADGM) | Authorized27 Nov 2025 | [Verified](https://www.adgm.com/public-registers/fsra/firms/financial-firms/circle-internet-mea-ltd-250035) |
| AE-DIFC | USDC and EURC recognised by the DFSA as Crypto Tokens (GEN Rule 3A.3.4) — DFSA Notice of Crypto Token Recognition, 17 Feb 2025; see also DFSA Policy Statement 15 Dec 2025. Token recognition, not an issuer licence · DFSA | Recognised17 Feb 2025 | [Verified](https://www.dfsa.ae/news/notice-crypto-token-recognition-2) |
| AE-ADGM | Accepted Fiat-Referenced Token(s) for use in ADGM: USDC, EURC — FSRA Consolidated List of Accepted FRTs (1 Sep 2026). Accepted for use; not an issuance licence · FSRA (ADGM) | Accepted1 Sep 2026 | [Verified](https://assets.adgm.com/download/assets/AFRT+List+Sep+2026.pdf/c1b34426b88e11f0912ade26907f67ec) |
| JP | USDC handled by SBI VC Trade (No. 00001, 4 Mar 2025) and Coincheck (No. 00002, 27 Aug 2026) · FSA / Kanto Finance Bureau | Authorized4 Mar 2025 | [Verified](https://www.fsa.go.jp/en/regulated/licensed/denshikessaisyudan.pdf) |
| HK | HKMA licensed stablecoin issuer · HKMA | Not on HKMA registerchecked 2026-10-26 | [Verified](https://www.hkma.gov.hk/eng/regulatory-resources/registers/register-of-licensed-stablecoin-issuers/) |
| CA | Undertaking in respect of USDC (value-referenced crypto asset) — Circle Internet Financial, LLC to the Ontario Securities Commission and the other CSA members, 3 Dec 2024. Per the CSA, an undertaking is not an approval or endorsement of the token · CSA (OSC principal regulator) | Undertaking filed3 Dec 2024 | [Reported](https://www.securities-administrators.ca/wp-content/uploads/2024/12/Circle-CSA-Undertaking.pdf) |

### USDC peg history
Max deviation from the peg, time spent outside ±50 / ±100 bps and derived events per window. 24h: CoinGecko 5-minute prices; 7d, 30d, 90d: hourly; 1y: daily. Cached at build time.

| Favourites | Coin | Peg | Trend | Max |dev| | Low | >±50 bps | >±100 bps | Events | Details |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | **USDC** | USD |  | −12.5 bps | 0.9988 | 0 | 0 | 0 |  |

Source: [CoinGecko ↗](https://www.coingecko.com/), [DefiLlama ↗](https://defillama.com/stablecoins) · market data cached 13 Nov 2026, 11:28 UTC. Aggregated prices can move on thin markets; a deviation here is not a confirmed depeg.

### Known depeg events for USDC
Events with an official or primary-source statement. Low price and time below $0.99 are computed from DefiLlama hourly prices for the stated window.

| Date (low) | Coin | Low | Below $0.99 | Context | Source |
| --- | --- | --- | --- | --- | --- |
| 2023-03-11 | **USDC** | $0.8767 | 51 h · 11 Mar 2023, 02:00 UTC → 13 Mar 2023, 08:59 UTC | Circle disclosed that $3.3 billion of USDC reserves were held at Silicon Valley Bank after its closure. | [Circle statement (archived copy of circle.com, 11 Mar 2023) ↗](https://web.archive.org/web/20240118180823/https://www.circle.com/blog/an-update-on-usdc-and-silicon-valley-bank)DefiLlama coins API (hourly), window 2023-03-09 + 6 days |

### USDC supply by chain
Current circulating supply per chain from the DefiLlama stablecoins API (cached at build time). Per-chain or DEX prices are not shown: no free source covers them reliably.

| Chain | Supply | Share of supply |
| --- | --- | --- |
| Ethereum | $41.39B | 59.6% |
| Solana | $7.29B | 10.5% |
| Hyperliquid L1 | $6.23B | 9.0% |
| Base | $4.35B | 6.3% |
| Arbitrum | $2.44B | 3.5% |
| Polygon | $1.60B | 2.3% |
| BSC | $1.59B | 2.3% |
| Arc | $1.41B | 2.0% |
| Stellar | $379.6M | 0.5% |
| Sui | $367.8M | 0.5% |
| Aptos | $346.1M | 0.5% |
| Avalanche | $253.5M | 0.4% |
| Monad | $193.7M | 0.3% |
| Fantom | $181.4M | 0.3% |
| OP Mainnet | $140.5M | 0.2% |

Source: [DefiLlama ↗](https://defillama.com/stablecoins)

### FAQ about USDC
#### What is Circle USDC?
USDC is a stablecoin pegged to the US dollar. Issuer: Circle. Backing (as described in our data): Fiat-backed (USD, EUR).

#### Who issues USDC?
USDC is issued by Circle Internet Financial, LLC (outside the EU); Circle Internet Financial Europe SAS (EU). Source: EBA press release, 14 Oct 2026. The issuer profile on StableRadar lists its licences with links to official registers.

#### Is USDC authorised under MiCA or another stablecoin regime?
A regulator-confirmed token authorisation is on record: EU (MiCA EMT). Register record: ESMA EMT register row; white paper circle.com/fr/legal/mica-usdc-whitepaper. Applicable law noted: MiCA — Regulation (EU) 2023/1114; GENIUS Act — OCC final rule FR 2026-21706 (effective 18 Jan 2027). US context: under the GENIUS Act only approved (permitted) payment stablecoin issuers may issue payment stablecoins in the US; the Act approves issuers, not individual tokens. It applies from 18 Jan 2027 (OCC final rule FR 2026-21706).

#### Is USDC safe?
StableRadar does not say whether a coin is safe and does not give investment advice. In our opinion, based on public data as of 12 Nov 2026, the issuer Circle has a Transparency Score of 82/100. This is not a regulatory decision or a credit rating. The live peg deviation and the official register links are on this page.

#### How is USDC backed?
Model: Fiat-backed (USD, EUR). Reserve mix: Circle Reserve Fund (USDXX: T-bills, repo) + cash at banks (per Circle). Attestation: Monthly attestation by Deloitte & Touche LLP.

### Related pages
Issuer profile → Circle

USDC × country checker: US

USDC × country checker: DE

USDC × country checker: FR

USDC × country checker: JP

USDC × country checker: HK

Stablecoin laws by country

News & depeg incidents

Live peg monitor

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Issuer ranking

Informational only: not legal, investment or compliance advice. Company statements are marked “per company”.

Live prices: 13 Nov 2026, 12:43 UTC · Issuer reference data reviewed: 26 Oct 2026 (later changes are dated on each row) · Sources: [Issuer transparency / reserves (Circle)](https://www.circle.com/transparency), [DefiLlama · USDC](https://defillama.com/stablecoin/usd-coin), [CoinGecko · USDC](https://www.coingecko.com/en/coins/usd-coin), [DefiLlama · Ethereum stablecoins](https://defillama.com/stablecoins/Ethereum)

Data: [DefiLlama](https://defillama.com/) · Powered by [CoinGecko](https://www.coingecko.com/)