what's Circle USYC?
USYC is a yield-bearing stablecoin issued by Circle International Bermuda Limited, regulated by the Bermuda Monetary Authority. It represents tokenized interests in a money market fund primarily invested in short-term U.S. Treasuries and cash equivalents, providing stability pegged to the U.S. dollar while accruing yield through token price appreciation. Holders can redeem USYC 1:1 for USDC onchain, enabling seamless integration into broader Circle ecosystem tools like CCTP for cross-chain transfers. Available on blockchains such as Solana and Ethereum, it supports institutional use cases like collateral in trading, with daily pricing updates via oracles and SPL-native compatibility for DeFi applications.
Circle USYC integrated into Solv Protocol's Bitcoin RWA Vault with Binance for institutional access.
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ethereum
Increased TVL by 4.5% over 30 days while maintaining TVL above $1 billion.
Paid $12.14M in cumulative yield, representing 5.68% of total yield-bearing stablecoin yield payouts.
Integrated as an underlying product in Solv Protocol's Bitcoin-backed RWA Vault, developed in collaboration with Binance and BNB Chain for institutional access.
Became the largest euro-denominated stablecoin under MiCA regulation.
Gained traction as institutional-grade tokenized cash equivalent collateral with real-time settlement during 2025.
Received conditional national trust charter approval.
Completed IPO in 2025.
Market cap reached $1.613B with 2.4% of supply in DeFi, ranking third among RWAs. Reached $1.5B in circulation as of Q4 2025.
USYC ranks #2 by market cap among all tokenized funds globally, behind only Securitize's BUIDL.
USYC achieves +737.7% market cap growth over the past month.
USYC integrates with Aave through Horizon for onchain collateral markets, expanding utility in the largest DeFi lending protocol with Aave becoming one of the first to enable USYC as collateral.
USYC deployment on BNB Chain achieves top position by market cap among all tokenized fund deployments.
USYC integrates with BNB Chain, reaching over $900M onchain and enabling developers to build with yield-accruing collateral for lending, margin, and vaults with daily pricing and onchain USDC redemptions.
Circle reports Q3 revenue of $740M, up 60% year-over-year, and confirms a token for Arc, the Layer-1 blockchain where USYC is deployed. Arc mainnet planned for 2026 with transition to decentralized governance.
USYC goes live on Arc Testnet.
Ranked 6th fastest growing tokenized fund among funds with $100M-$1B in supply.
40% supply increase recorded over the past 30 days.
USYC goes live on Solana blockchain, expanding the tokenized US government money market fund to the Solana ecosystem with real-time USDC redemption functionality.
Fund currently manages $487M in tokenized bonds, part of concentrated market where 6 funds control 88% of assets.
USYC holds $487M in tokenized Treasury bonds, ranking as 5th largest holder in concentrated market of 6 major players.
USYC holds $487M in tokenized Treasuries, securing position as 5th largest holder in the market.
USYC holds $487 million in tokenized US Treasuries, ranking 5th among six entities controlling 88% of the market.