Bobbob Pty Ltd, ACN 652793318, is an authorised representative (Authorised Representative No. 1296199) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) (Sanlam). The Bobbob Account is not a bank deposit or bank account. Digital Assets (crypto assets) are not regulated in Australia and carry investment risk. Bobbob is a registered DCE (DCE100777991-001) regulated by AUSTRAC.
USDC (USD Coin) is a digital asset, a digital US Dollar. Each USDC is worth US$1.00, and is always redeemable on a 1:1 basis for US dollars. Digital dollars move at the speed of the internet and are cheaper and more secure than existing payment systems. USDC is fully backed by cash and equivalents and short-duration U.S. Treasuries, so that it is always redeemable 1:1 for U.S. dollars. Each month, Circle (https://www.circle.com/en/usdc) publish attestation reports by Grant Thornton regarding the reserve balances backing USDC.