Hashnote US Yield Coin (USYC) product
Overview
USYC (US Yield Coin) is a tokenised money market fund token originally issued by Hashnote, investing in US Treasury bills and reverse repurchase agreements. It is now a Circle product: Circle Internet Group signed a definitive merger agreement effective 31 December 2024 to acquire Hashnote and closed on 21 January 2025, at which point USYC was described as the largest tokenised treasury and money market fund in the world with about $1.52 billion outstanding. Circle's stated aim is to integrate USYC with USDC so it can serve as yield-bearing collateral on crypto exchanges and with custodians and prime brokers. Alongside the acquisition Circle announced a partnership with trading firm Cumberland DRW for liquidity and settlement of USDC and USYC, and said it would bring native USDC to the Canton Network. USYC has since been extended to other chains, including a launch on BNB Chain by Circle subsidiary Hashnote, and was reported at around $3 billion in assets under management as of mid-2026. USYC was created by Hashnote. Circle agreed to acquire Hashnote effective 31 December 2024 and closed on 21 January 2025, making USYC a Circle product; Circle simultaneously partnered with Cumberland DRW and committed to bringing USDC to the Canton Network. Hashnote, now a Circle subsidiary, later launched USYC on BNB Chain.
Within the DeFi Intel graph, Hashnote US Yield Coin (USYC) connects to 11 tracked entities, most strongly to Ethereum, Circle, Hashnote.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 10 of 11 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | Ethereum | 95% |
issued_by | Circle | 95% |
issued_by | Hashnote | 95% |
launched | Circle | 90% |
integrates | Coinbase | 90% |
custodian_of | BNY Mellon | 90% |
deployed_on | Sui | 85% |
deployed_on | Canton Network | 85% |
integrates | Cumberland | 85% |
integrates | Coinbase Wrapped BTC (cbBTC) | 85% |
Frequently asked questions
What is Hashnote US Yield Coin (USYC)?
Hashnote US Yield Coin (USYC) is a product tracked in the DeFi Intel knowledge graph. It is connected to 11 other tracked entities, most strongly to Ethereum, Circle, Hashnote.
What type of entity is Hashnote US Yield Coin (USYC)?
Hashnote US Yield Coin (USYC) is classified as a product (product) in the DeFi Intel knowledge graph.
What is Hashnote US Yield Coin (USYC) connected to?
In the DeFi Intel knowledge graph, Hashnote US Yield Coin (USYC) is linked to 11 other tracked entities, most strongly to Ethereum, Circle, Hashnote.
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