Circle USYC

USYC is a tokenized money-market product from Hashnote (now part of Circle), giving qualified investors on-chain exposure to short-duration U.S. Treasuries and reverse-repo positions on those Treasuries. The token accrues yield through an exchange rate that increases over time.

USYC sits in the institutional RWA tier: minting and redemption are permissioned, and the asset is intended for use in regulated venues, prime brokerage, and as collateral in institutional DeFi. Within Circle’s broader stack, it complements USDC by providing a yield-bearing variant for cash management on-chain.