Circle Acquires $1.3 Billion USYC Issuer Hashnote at Davos, Plans USDC Integration on Canton Network

Circle, the issuer of the $48 billion USDC stablecoin, has acquired Hashnote, a firm specializing in tokenized real-world assets (RWA) with its $1.3 billion USYC tokenized money market fund. The acquisition was announced during the World Economic Forum meeting in Davos, Switzerland.

Circle aims to integrate USYC with its flagship USDC stablecoin to enable convertibility between cash and yield-bearing collateral on blockchains. Additionally, Circle has entered into a strategic partnership with global trading firm DRW and its crypto market maker Cumberland to provide liquidity for both USDC and USYC tokens.

Circle also plans to deploy USDC on the Canton Network, which is used by traditional financial institutions for real-world asset transactions, to facilitate seamless transfers between decentralized and traditional markets.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.