Circle acquires RWA issuer Hashnote, partners with DRW to enhance USDC liquidity
Ad Circle acquired the tokenization firm Hashnote, issuer of the USYC token, and partnered with market maker DRW Cumberland to enhance liquidity for USYC and USD Coin (USDC). Hashnote's Short Duration Yield Coin is the largest tokenized money fund globally, with over $1.2 billion in USYC tokens across multiple blockchains. Circle plans to integrate USYC with USDC to improve accessibility and position USYC as the preferred yield-bearing collateral in financial markets. Circle also announced the issuance of native USDC on the Canton blockchain, which has issued over $3.6 trillion in tokenized real-world assets. Despite USDC's growth, it remains significantly smaller than Tether USD (USDT), which holds a $141 billion supply compared to USDC's $44.6 billion.
