Circle acquires Hashnote, USYC onchain money fund
The deal combines the issuers of the second-largest stablecoin and the largest onchain money fund by market cap.
Stablecoin issuer Circle Internet Financial has acquired Hashnote, the issuer of US Yield Coin (USYC), a tokenized real-world asset (RWA) fund.
In a Jan. 21 announcement, Circle said the deal “will enable USYC to emerge as a preferred form of yield-bearing collateral on crypto exchanges, and also with custodians and prime brokers.”
Hashnote’s USDY is the most popular tokenized money fund by market capitalization, with a total value locked (TVL) of roughly $1.25 billion, according to data provider RWA.xyz.
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Author: Alex O’Donnell
