March 14, 2025
11 11 11 AM
Latest Post
Trump-backed World Liberty Financial (WLFI) Completes $590M Token Sale AI’s Lead Over Crypto for VC Dollars Increased in Q1’25, But Does This Race Really Matter? Solana Inflation Reform Effort Fails on Dramatic Final Voting Day BlackRock’s BUIDL Fund Tops $1B with Ethena’s $200M Allocation Ethereum Developers Launch New Testnet for Pectra Upgrade After Earlier Setbacks Tokenized Treasuries Hit Record $4.2B Market Cap as Crypto Correction Fuels Growth Bitcoin’s Role in DeFi Is ‘Untapped Opportunity,’ Binance Research Says AML Bitcoin Creator Found Guilty In Pump-and-Dump Case Linked to ‘Casino Jack’ U.S. Senate Takes First Big Step to Advance Stablecoin Bill Bitcoin, S&P 500 Struggle Below Key Technical Level in Sign of Further BTC Price Drops

Circle Plans to Bring $1B Tokenized Treasury Issuer Hashnote Under Bermuda License

Circle Internet Group, Inc., the company behind the $58 billion USDC stablecoin, said on Thursday it plans to bring its recently acquired Hashnote Tokenized Money Market Fund (TMMF) under Bermuda’s regulatory oversight. The fund, which manages nearly $1 billion assets, will be incorporated into Circle’s existing Digital Assets Business Act (DABA) license, the company said in a press release.

Hashnote issues USYC, the largest tokenized money market fund, according to rwa.xyz data. By integrating USYC with USDC, Circle aims to allow seamless movement between a yield-bearing asset and one of the most widely used stablecoins and boost USYC as a collateral option on exchanges, custodians and prime brokers.

Circle CEO Jeremy Allaire emphasized Bermuda’s role in digital asset regulation, calling it a “natural choice” for USYC operations. The Bermuda Monetary Authority (BMA) first granted Circle a comprehensive license in 2021, and the firm has since maintained a presence in the jurisdiction.

“Digital financial products like USYC and USDC are strengthening Bermuda’s digital connectivity and our leadership in international business markets,”
Premier of Bermuda David Burt said in a statement.

This post was originally published on this site