Circle, the issuer of the $48 billion USDC stablecoin, has announced its acquisition of Hashnote, a leading issuer of tokenized real-world assets. Hashnote is the creator of USYC, a tokenized money market fund with over $1.3 billion in assets. The acquisition was finalized during the World Economic Forum in Davos, Switzerland.
Circle Acquires Hashnote to Lead Tokenization of Real-World Assets
According to a recent press statement, Circle has acquired Hashnote, the issuer of the $1.3 billion tokenized money market fund USYC. This move positions Circle at the forefront of integrating tokenized assets with its widely used stablecoin, USDC. The acquisition aligns with Circle’s strategy to connect traditional financial markets with blockchain technology.
Hashnote’s USYC token, which has grown into the largest tokenized U.S. Treasury product, will be integrated into Circle’s platform. This integration will allow USYC to serve as yield-bearing collateral across digital asset exchanges,
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