Corporate treasurers fed up with rock-bottom returns on their cash are about to get another pitch from the world of crypto . The idea may be appealing to some treasurers who were initially seduced by the big gains in crypto, especially following Bitcoin’s roughly 40% decline since mid-April. “However, if the account is paying out a higher yield than bank account yields, then it is not merely invested in some risk-free asset." With few companies outside the crypto realm following MicroStrategy, Tesla and Dorsey’s Square Inc. into Bitcoin, Circle hopes that stablecoins may be the next logical step. USDC reserves are attested to monthly by accounting firm Grant Thornton LLP and published online.

Source: Mint May 29, 2021 13:07 UTC