Circle USYC

Circle USYC is a tokenized money market fund token whose underlying asset is the Hasnote International Short Duration Yield Fund Ltd., a fund that invests in short-term U.S. Treasury Bills and conducts repo and reverse repo activities. It is designed for investors who want exposure to short-term U.S. government debt instruments through a blockchain-native format. The token aims to solve the problem of slow settlement and limited composability that traditional money market funds face, by bringing that exposure onto public blockchains.

USYC exists across the Ethereum, Solana, and BNB Chain ecosystems, meaning the token can be held and transacted on any of those networks. Each token represents a share of the underlying fund, so its price—currently 1.14 USD—accretes over time as the fund earns returns from Treasury Bills and repo activities rather than staying fixed at one dollar. Settlement and transaction logic follow the rules of whichever blockchain hosts the token at any given moment; there is no dedicated consensus algorithm specific to USYC itself.

The data provided does not include a protocol fee stream for USYC, so no fee-based measures such as protocol revenue or fee yield are available on this site. The token's return mechanism is the accrual of short-term Federal Reserve rate returns within the underlying fund, which is reflected in the token's price rising above 1.00 USD rather than in distributions tracked here. The circulating stablecoin supply measure stands at 2,882,121,924.61 USD on a point-in-time basis, and that figure declined by approximately 4.34 percentage points over the last 30 days, indicating recent net outflows from the token's supply.