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Circle Expands USYC Tokenized Money Market Fund to Solana Blockchain

Circle Expands USYC Tokenized Money Market Fund to Solana Blockchain

Circle's tokenized U.S. Treasury fund, USYC, is now available on Solana, broadening its reach across multiple blockchain networks, including Ethereum, Near, Base, and Canton.

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Fact Check
Multiple sources, including CoinDesk and Cryptopolitan, directly confirm that Circle has expanded its USYC tokenized money market fund to the Solana blockchain. The evidence is consistent across all provided sources and corroborated by the official Circle website, which lists USYC as one of its tokenized funds.
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Summary

Circle has expanded its tokenized U.S. government money market fund, USYC, to the Solana blockchain. The tokenized fund offers yields from short-term U.S. government assets, accessible to non-U.S. institutional investors passing KYC/AML checks. USYC is already available on Ethereum, Near, Base, and Canton networks. On Solana, it can be used as collateral in decentralized finance (DeFi) applications or as a yield-bearing asset.

Terms & Concepts
  • Tokenized Money Market Fund: A digital representation of shares in a traditional money market fund, issued and recorded on a blockchain.
  • KYC/AML: Know Your Customer and Anti-Money Laundering regulations that require identity verification and monitoring to prevent illicit activities.
  • Perpetual DEX: A decentralized exchange offering perpetual contracts with no expiry date, allowing leveraged trading of digital assets.