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USDC Stablecoin Issuer Circle's Hope for Access to New York Federal Reserve's RRP Could Be Squashed by Policy Change - Vimarsana News

USDC Stablecoin Issuer Circle's Hope for Access to New York Federal Reserve's RRP Could Be Squashed by Policy Change

Funds structured as stablecoin issuer Circle’s BlackRock-managed USDC reserve fund “generally will be deemed ineligible” for the New York Federal Reserve’s reverse repurchase program under the new rules.

NY Fed's new policy change could prevent Circle from accessing the Fed facility - Vimarsana News

NY Fed's new policy change could prevent Circle from accessing the Fed facility

Stablecoin issuer Circle has had plans to access the Fed’s prized facility, but such ambitions might never be achieved due to a recent policy change by the NY Fed.