Circle Hashnote Acquisition, the owner of the $48 billion-backed USDC stablecoin, has announced that it has acquired Hashnote, a leading stable issuer of real-world assets. The team behind Hashnote also developed USYC, a money market fund token with over $1.3 billion in assets. The purchase deal was signed off during the World Economic Forum in Davos, Switzerland.
Circle bought Hashnote to enter the tokenized asset market.
Circle obtained Hashnote, a company behind USYC, a tokenized money from Polymarket Whale’s fund worth one point three billion dollars. Thus, Circle is on the verge of paying the most incredible attention to the tokenization of assets by linking its widely used stablecoin, USDC. The acquisition has a strong purpose: to circle the traditional financial markets with blockchain technology.
Circle will add Hashnote’s USYC token price to its platform, which has already become the most oversized tokenized UST product in the area. The integration of USYC will make it a yield-bearing asset across digital exchanges, prime brokers, and custodians.
Meanwhile, the adoption of USDC has been massive. Coinbase’s latest report indicates that Bitcoin can borrow USDC as collateral. Under this new service, the maximum loan amount is $100,000, which the Morpho protocol utilizes on the Base blockchain technology platform.
Circle’s USDC Integration with Canton Network
In addition, Circle will implement USDC on the Canton Network, a blockchain for transactions involving real-world assets. Some of the most prominent traditional financial institutions also support the network, processing over $1.5 trillion in monthly repo transactions. The circle will allow convertibility between USDC and USYC, thus ensuring that liquidity is always at the required level and that transactions are settled quickly and efficiently every time.
The representative’s job is to make a 7/24 deviation between collateral and cash easy to move instantly, connecting decentralized traditional finance systems. After the buyout, Leo Mizuhara, CEO and Founder of Hashnote spoke of his exuberance while acknowledging that:
Supporting Stablecoin Adoption with Cumberland
As part of the expansion, Circle Hashnote Acquisition has converted the cross-margining agreement with Cumberland, DRW’s affiliated trading firm, to ensure liquidity for USDC and USYC. Among their numerous services, Cumberland will provide expertise in settlement and collateral management for the professional trade of digital assets. The partnership will boost Circle’s stablecoins’ global merchandise and the security of trading tokenized assets. The acquisition of Hashnote by the USDC issuer was the first essential breakthrough in developing tokenized money markets.
Through the joining of the USDC and the USYC, Circle will witness the establishment. A universal system in which cash and interest-bearing assets are swappable one for another. In a recent interview, Jeremy Allaire, the CEO of the stablecoin issuer, expressed optimism about Donald Trump’s crypto-friendly policies. In this connection, he pointed out that banks expect some to adopt the practice of trading in digital currency if the proposed executive orders are made and such legislation as SAB 121 is eradicated.
Final Thoughts
The purchase of Hashnote by Circle announces Circle’s step forward in tokenised asset marketing. At USYC, Circle is set to combine the traditional monetary system and blockchain technology by putting. It is on its platform and using its connections with key financial players like Cumberland. The resemblance between USDC and USYC within the Circle brand results in a powerful endorsement. The company’s liquid and efficient practices in the fast-progressing digital economy.
This deal will give Circle’s stablecoins more uses and make the company a fundamental player in tokenising real-world assets. Thanks to its strong management team and smart connections Circle will influence finance worldwide by promoting blockchain technology and stablecoins.
