Circle Acquires Hashnote to Expand in Tokenized Money Market Sector

The acquisition positions Circle to integrate its USDC stablecoin with Hashnote's $1.3 billion USYC token, advancing blockchain-based financial infrastructure.

• Circle has acquired Hashnote, the issuer of the $1.3 billion USYC token, which is backed by U.S. Treasury debt and reverse repurchase agreements.
• The move strengthens Circle's presence in the growing tokenized real-world asset (RWA) market, which has seen a 36.9% increase in total value locked over the past year.
• Circle plans to integrate USYC with its USDC stablecoin, enabling seamless convertibility between cash and yield-bearing collateral on blockchains.
• A strategic partnership with Cumberland, a DRW subsidiary, will enhance liquidity and settlement capabilities for USDC and USYC across crypto and traditional finance markets.
• Circle's acquisition aligns with its broader strategy to go public and capitalize on the increasing institutional adoption of blockchain-based financial solutions.

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