Circle integrates Hashnote TMMF under Bermuda’s regulatory framework, reinforcing its commitment to compliance and investor security.
USDC adoption surges, with circulation up 78% and transaction volume hitting $1 trillion in November 2024, strengthening its global presence.
Circle is strengthening its position in the stablecoin industry with a significant move that would subject the Hashnote Tokenized Money Market Fund (TMMF) to Bermuda’s regulatory scrutiny. The move fits Circle’s larger plan to create a more regulated and stablecoin ecosystem with $1 billion in assets under management.
Circle Strengthens Its Regulatory Framework in Bermuda
Bermuda was no casual choice for Circle. The Bermuda Monetary Authority (BMA) has approved the firm to run its digital asset company starting in 2021. Circle wants to make a safer surrounding for its investors by underlining Hashnote TMMF under Bermuda’s regulation.
Jeremy Allaire, the CEO of Circle, underlined that the move was taken
