Circle's tokenized money market fund USYC surpasses $2 billion, ranking first globally

BlockBeats News, on March 13, Circle officially announced that its tokenized money market fund USYC has surpassed $2 billions in scale, becoming the world's largest tokenized money market fund. This milestone clearly demonstrates that on-chain cash and collateral are increasingly being adopted in global markets.

USYC is a product by Circle that tokenizes traditional money market funds using blockchain technology, allowing institutional investors to hold, trade, and manage yield assets on-chain. The fund primarily invests in short-term US Treasury bonds and reverse repurchase agreements backed by US government securities.