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Circle’s USYC Surpasses $2 Billion, Becoming Largest Tokenized Money Market Fund

According to Circle, USYC has exceeded $2 billion in assets, marking a new scale milestone for tokenized money market funds built around onchain access to yield-bearing instruments.

USYC

Summary

Circle officially announced that USYC has surpassed $2 billion, making it the world’s largest tokenized money market fund. The product is designed for institutions to hold, trade, and manage yield-bearing assets onchain. According to the announcement, USYC primarily invests in short-term U.S. Treasuries and government-backed reverse repurchase agreements.

Terms & Concepts
  • Tokenized money market fund: A money market fund represented on blockchain rails, allowing fund interests or access to be managed through onchain infrastructure.
  • Onchain: Activity or asset management that occurs directly on a blockchain network rather than through only traditional offchain systems.
  • Reverse repos: Short-term agreements, often backed by government securities, used to earn yield while preserving liquidity and low risk.