Coinspeaker
10 hour ago
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Hashnote Deploys USYC Tokenized Money Market Fund on BNB Chain

Hashnote, a subsidiary of Circle, has launched its USYC tokenized money market fund on the BNB Chain as of November 19. This enables investors to use the yield-bearing asset within DeFi protocols as collateral.

  • USYC is now available to eligible non-US institutional investors for subscription or redemption in near real-time with USDC.
  • The fund invests in US Treasury bills and reverse repurchase agreements, aiming to provide daily yield through token price appreciation.

Market Performance and Structure

  • As of November 19, the fund manages $1.07 billion in assets according to RWA.xyz, although other sources list over $1.2 billion.
  • Offers a 7-day APY of 3.93%, accruing returns via token price increases without staking or manual claims.

Strategic Expansion to BNB Chain

  • BNB Chain's established DeFi ecosystem and high transaction throughput make it a strategic venue.
  • Addresses demand for regulated, yield-bearing collateral within on-chain protocols.
  • Access limited to non-US institutional investors who pass KYC verification and allow-list their wallets.