Circle, the blockchain technology firm behind the US dollar-backed stablecoin USDC, has recently taken measures to mitigate risk and ensure the safety of its users’ funds. In light of recent bank failures, Circle has shifted its strategy and now holds a significant portion of the cash reserves at one of the world’s 30 global systemically important banks (GSIBs). A GSIB is recognized as one of the safest banks in the world, with high capital, liquidity,…