Circle's USDC Yielding Treasury market fund surpasses $2 billion, ranking first globally

BlockBeats News, March 13th, Circle officially announced that its tokenized currency market fund USYC has surpassed $2 billion in size, becoming the world's largest tokenized currency market fund. This milestone event clearly demonstrates that on-chain cash and collateral are increasingly being adopted in the global market.

USYC is a product of Circle that tokenizes traditional money market funds through blockchain technology, allowing institutional investors to hold, trade, and manage yield-generating assets on-chain. The fund primarily invests in short-term US Treasury bills and US government securities-backed repurchase agreements.