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BTC Pulse 2025-01-22 17:40:00

Circle Acquires Hashnote and Integrates USYC for Digital Assets

Circle, a prominent player in the stablecoin ecosystem, has acquired Hashnote, the issuer of the US Yield Coin (USYC), as part of a strategic push to enhance the adoption of tokenized financial assets. The acquisition will integrate USYC with Circle’s flagship stablecoin, USDC, creating synergies that benefit both digital and traditional financial markets. This acquisition also included a strategic partnership with Cumberland, the prime liquidity provider offered by DRW, which promises to enhance both the accessibility and utility of stablecoins across different trading platforms as well as collateral management systems. “This unlocks a huge level for a marketplace increasingly driven by institutional adoption,” said Circle’s CEO Jeremy Allaire. USYC: Connecting traditional and digital finance USYC, valued at $1.52 billion and secured by tokenized short-term U.S. Treasury bills, will become a vital collateral choice in financial markets. Circle is looking to integrate USYC and USDC to achieve an effortless route between stablecoin liquidity and yield-generating collateral. The migration establishes USYC as a highly demanded reserve asset for exchanges, custodians, and prime brokers, enhancing its utility in the wider finance ecosystem. Combining the strengths of USDC and USYC, Circle aims at simplifying operations for tokenized assets and pushing adoption even further. Improving Liquidity With Cumberland Circle will team with Cumberland, significantly enhancing the institution’s stablecoin liquidity. Famous for its depth in both analog and digital marketplaces, Cumberland will help facilitate and add USYC as well as USDC to an institutional-grade order book environment. The venture will also more easily ensure implementation and solidifies Circle’s leader status in this stablecoin world. USDC will trade on the Canton Blockchain In addition to the acquisition of Hashnote, Circle announced plans to launch native USDC on the Canton blockchain network. This blockchain provides configurable privacy that allows for secure and private transactions while improving the operational efficiency of collateral management . The move will enable 24/7 collateral and variation margin movements, narrowing the gap between crypto markets and traditional financial systems. With Canton’s unique privacy features and USYC’s strong collateral base, Circle is uniting the essential elements needed for modern financial markets,” said DRW founder Don Wilson. Following this, Circle works to reinforce its position in the leadership of the digital financial ecosystem and develops the ability for innovation and deeper integration across multiple markets.

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