No. Your global account is not FDIC insured.
How this is different from a bank account
In a bank account, your money is held at a bank as a deposit. If that bank fails, FDIC insurance covers your balance up to $250,000 per depositor, per ownership category. FDIC insurance covers the failure of insured banks. It does not cover other losses.
Your global account works differently. Your balance is held as a US dollar stablecoin. You are a creditor of the issuer, not a depositor of a bank. If the issuer fails or becomes insolvent, you may lose some or all of your funds, and you may have to wait to recover any funds.
How your funds are held
If you are outside the EEA
Your balance is represented by USDB, a US dollar stablecoin. Services are provided by Bridge Ventures LLC.
USDB is backed one to one by cash and short-duration US Treasuries.
Those reserves are held in segregated, bankruptcy-remote accounts at regulated financial institutions. This segregation is designed to keep the reserve assets separate from Bridge’s operating funds, including in an insolvency.
USDB is redeemable for one US dollar, subject to the Bridge stablecoin terms. USDB does not convey any property interest in the reserve assets.
If you are in the EEA
Your balance is represented by USDC, a US dollar stablecoin issued by Circle’s EU-authorized entity.
You have a legal right to redeem USDC at par value, one US dollar per USDC, under Circle’s redemption policy.
Your USDC is held through Bridge’s EEA entity. Under EU regulation, your assets are segregated from Bridge’s own assets and are protected in the event of Bridge’s insolvency.
USDC does not convey any property interest in Circle’s reserve assets.
These safeguards are not insurance
Reserve backing, segregation, and redeemability reduce certain risks. They do not remove them, and they are not FDIC or SIPC insurance.
Your stablecoin is intended to track the value of the US dollar. It may not always do so. The value can move away from one US dollar, temporarily or permanently, and you could receive less than the amount you put in.
For the full list of risks, including de-peg, custody, and availability risk, see: What are the risks of using stablecoins?