June 21 (Cointime) - Circle Internet Financial, the stablecoin issuer, has resumed buying U.S. Treasury bills as a reserve asset for its USD Coin (USDC) after selling all holdings last month due to the U.S. debt ceiling standoff. The Circle Reserve Fund (USDXX), managed by BlackRock, has started building up its direct holdings of Treasuries and will also keep repurchase agreements as part of its reserves. The move comes after Circle reshuffled the backing of its stablecoin last month to protect USDC from potential fallout if the U.S. government failed to increase its ability to borrow and default on its debt. As of June 20, Circle added $2.2 billion of T-bills to the fund, while repos constituted some 90% of the fund’s $24.7 billion in assets.