Circle Signs Clearwater Analytics for USDC Reporting
Posted by Colin Lambert. Last updated: November 16, 2021
SaaS-based investment accounting, reporting, and analytics solutions provider Clearwater Analytics has announced that Circle Internet Financial has selected it to provide clarity, consistency and transparency in the reserves reporting process for USD Coin (USDC).
Circle is the principal operator of USDC, which has more than $33 billion in circulation and over $1.3 trillion in on-chain transactions.
This year, as USDC’s growth has accelerated, Circle needed a solution that would enable it to provide continued reporting transparency to the public, which is one of Circle’s core priorities, according to the firm. Clearwater’s SaaS platform is thus helping Circle increase transparency and clarity in its investment accounting and reporting processes through automated data consolidation and reconciliation – while providing the necessary operational scalability Circle requires with the growth of USDC.
“As investment professionals around the globe are working to untangle the complexities of accounting and reporting for an evolving investment landscape, Clearwater’s commitment to data accuracy and timeliness are more relevant than ever,” says Scott Erickson, president of Americas and new markets at Clearwater.