Circle acquires Hashnote and plans the integration of USYC

• Circle has acquired Hashnote for an unnoted amount and plans to integrate usyc as security on crypto exchanges.
• hashnote manages the largest money market fund for government bonds with a managed assets of $ 1.2 billion.

The StableCoin emittent Circle announced the takeover of Hashnote, a regulated asset manager who offers investors structured crypto products. Hashnote is popular for Usyc, its hashnote-us-yield coin.

circle today announced the takeover of Hashnote and usyc tokenized money market fund.

This strategic step together with a partnership with the global trading company DRW via @cumberlandsays Rel = "NOFOLLOW" TARGET = "_ blank" href = "https://twitter.com/cantonnetwork?ref_src=twsrc%5etfw"> @cantonnetwork should redefine the landscape ... pic.twitter.com/mb1nbr7x5f

- Kreis (@Circle) 21. January 2025

According to a public explanation on the Circle website, the Stablecoin-Riese Hashnote has acquired as part of a strategic partnership with DRW, a global trading company.

"Circle intends to integrate usyc completely into USDC and thus offer seamless access between TMMF security and USDC, one of the most popular stable coins.

about usyc

us Yield Coin is a tokenized representation of the Hashnote International Short Duration Yield Fund Ltd. (SdyF), who invests in reverse pension business on US state bonds.

With an administrated assets of $ 1.24 billion, it is the largest fund of its kind. Usyc represents shares of the fund that had an annual return of 3.39 % at the time of publication.

USDC and USYC integration

CIRCLE plans the integration of USDC and USYC to enable the mutual convert between the two assets, so that usyc can be used as preferred security on stock exchanges and brokers.

Jeremy Allaire, CEO of Circle, said: "We helped to invent cash and are now leading on the tokenized money markets, of which we believe that both will be of crucial importance for the future of the global financial system." The takeover of Hashnote by Circle and our strategic partnership with the DRW subsidiary Cumberland are crucial for the promotion and provision of these products on a large scale. ”

In the meantime, DRW, a liquidity provider and retail company, will provide liquidity and processing for USDC and USYC if necessary.