Circle plans to bring $ 1B tokenized Treasury Issuer Hashnote under Bermuda’s license
Circle Internet Group, Inc., the company behind $ 58 billion USDC Stablecoin, said Thursday it plans to bring it Recently obtained The hashnote tokenized Money Market Fund (TMMF) under the supervision of Bermuda regulation. The fund, which manages nearly $ 1 billion owners, will be included in the existing License of the Digital Assets Business Act (DABA), the company said in A Press release.
The issue of Hashnote Usyc, the largest tokenized funding in the currency market, according to RWA.xyz data. By integrating the USYC into the USDC, the circle aims to allow seamless movements between an asset with yield and one of the most widely used stablecoins and boost USYC as a collateral choice in exchanges, guardians and chief brokers.
Colle 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 issued the circle of a comprehensive license in 2021, and the firm has since maintained its presence.
“Digital financial products such as the USYC and USDC strengthen Bermuda’s digital connection and our leadership in international business markets,”
Premier of Bermuda David Burt said in a statement.
