Circle Buys Hashnote, Largest Issuer of Tokenized Treasuries
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Stablecoin issuer Circle Internet Financial Ltd. acquired Hashnote, adding a tokenized money market fund just as crypto advocate Donald Trump enters the White House for a second term.
Hashnote’s US Yield Coin (USYC) is the largest issuer of tokenized Treasuries, according to industry tracker RWA.xyz. The fund had issued $1.3 billion in tokens as of Tuesday, double its closest competitor, BlackRock Inc.’s BUIDL.