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Circle’s USYC Tokenized Money Market Fund Reaches $2.68 Billion

According to DeFiLlama (crypto data platform) and other on-chain data platforms, about 95% of the fund’s assets were migrated and issued on BNB Chain (blockchain network linked to Binance) by April 15.

BNB
USYC

Summary

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Terms & Concepts
  • Tokenized money market fund: A money market fund represented on a blockchain, allowing fund shares or claims to be issued and transferred as digital tokens.
  • BNB Chain: A blockchain network linked to Binance, commonly used for issuing tokens and running smart contracts (self-executing blockchain code).
  • On-chain data: Blockchain-recorded transaction and asset information that can be tracked publicly through analytics platforms.