Circle's Vice President of Strategy and Public Policy for Asia Pacific, David A. Katz, disclosed that about 90% of USDC's asset reserves are managed by BlackRock. Speaking at a forum in Singapore, Katz emphasized the importance of network security and the need for digital assets to be backed by real, high-quality, and liquid assets. He highlighted that these assets should be held in custody by reputable institutions to ensure stability and security. Katz also noted that Circle employs over 900 people, with around 300 dedicated to legal and compliance roles, underscoring the company's commitment to regulatory adherence. He stressed the necessity of government regulation for stablecoins to integrate into the international financial system.