Circle acquires the issuer of the tokenized currency market fund USYC, Hashnote

according to CoinDesk, Circle has acquired the tokenized money market fund USYC issuer Hashnote, with a total market capitalization of USDY reaching 1.3 billion dollars.

Circle also announced an agreement with Cumberland, a cryptocurrency trading company and market maker under DRW, to provide liquidity and facilitate settlement for USDC and USYC. This collaboration aims to expand the use of USYC as collateral for exchanges and custody platforms.