Circle Announces Binance to Accept Its Yield-Bearing Stablecoin USYC as Collateral for Institutional Clients

Circle announced that Binance will accept its yield-bearing stablecoin USYC as collateral for institutional clients. USYC, as a token linked to traditional money market funds, differs from ordinary stablecoins such as USDC and Tether in that it can distribute interest income to holders. Circle says the move is expected to improve the settlement efficiency of institutional investors in crypto trading, especially solving the settlement delays of traditional financial systems. Binance also announced that it will integrate another yield-bearing stablecoin, cUSDO, issued by Bermuda-regulated OpenEden Digital. [Fortune]