Genesis is the counterparty for Circle Yield, with a total outstanding loan amount of $2.6 million.
USDC issuer Circle tweeted: "Circle Yield is a fixed income product with overcollateralization, with Genesis as the counterparty in this product. As of November 16, 2022, the total outstanding loans for Circle Yield customers amount to $2.6 million and are protected by collateral agreements. The outstanding loan balance currently remains overcollateralized, and Circle will ensure that the loans are protected from potential losses."
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The issuer of USDC, Circle, tweeted: "Circle Yield is a fixed yield product with over-collateralization, with Genesis as the counterparty in this product. As of November 16, 2022, the total outstanding loans for Circle Yield customers amount to $2.6 million and are protected by collateral agreements. The current outstanding loan balance remains in an over-collateralized state, and Circle will ensure that the loans are safeguarded from potential losses."
1/ Circle Yield is an overcollateralized fixed-term yield product. Genesis is a counterparty to Circle in this product. Total Circle Yield customer loans outstanding are $2.6 million as of 11/16/22 and are protected by robust collateral agreements.
— Circle (@circle) November 16, 2022
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