The news of Circle's acquisition of Hashnote, and its market leading tokenized money market fund, underscores the role tokenized treasury funds will play in traditional financial markets moving forward - especially compared to stablecoins.

We wrote about this trend - and the need for public, secondary markets to support the growth of these securities - recently in Coindesk. https://t.co/13Ene623Al

Circle announced today the acquisition of Hashnote and USYC Tokenized Money Market Fund.

This strategic move, alongside a partnership with global trading firm DRW via @CumberlandSays and news that we’re bringing native USDC to the @CantonNetwork, is set to redefine the landscape of digital asset capital markets.

https://t.co/ODyGL0fNXN

The US Yield Coin (USYC), the world’s largest Tokenized Money Market Fund (TMMF) with $1.52B deployed into USYC as of January 15, 2025, will now play a pivotal role as collateral in digital asset markets.

The partnership with DRW, a major player in traditional and crypto markets via its affiliate Cumberland, is a huge unlock for supporting USDC and USYC and elevating institutional adoption and operational efficiencies in digital finance.

Planned native USDC support on the Canton Network will enable private transactions and seamless integration of USDC and USYC in traditional finance (TradFi) markets, signifying a major shift towards enhancing liquidity and accessibility in the digital economy.

With USYC as a key collateral product, institutional players can expect smoother operations and innovative financial solutions.

We're thrilled to embark on this journey with the team from Hashnote, DRW and Cumberland, and the Canton Network to reshape the future of finance!