USDC survives Silicon Valley Bank collapse and clearsbacklog

Circle said they had redeemed $3.8 billion USDC and minted $0.8 billion USDC since Monday. They have also changed their banking partner after the Silicon Valley Bank (SVB) collapse.

According to the stablecoin issuer writes, on March 14, they went live with a new transaction banking partner for domestic U.S. wires in and out.