Yield and liquidity for always-on markets
Keep capital productive in a new internet financial system that moves around the clock. USYC delivers yield on US Treasury bills and reverse repurchase agreements with 24/7, near-instant settlement — without sacrificing liquidity.
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Institutional access with a lower upfront threshold
USYC offers yield-bearing exposure starting at $100,000, broadening access once limited by high minimums.
USYC waives subscription and redemption fees on the first $1M of daily volume1 — helping firms stay agile as market needs shift.
Why USYC?
24/7 access
By bringing assets onchain, USYC delivers secure and reliable around-the-clock access to capital — free from banking delays, cut-off times, and trading windows.
Near-instant redemptions
USYC can be redeemed into USDC in near real time up to the instant-redemption capacity, with optional access to additional immediate liquidity.
Simplified yield
USYC yield accrues automatically through a rising token price, with no staking, claiming, or added operational complexity.
Seamless integrations
Part of Circle’s full-stack platform, USYC and USDC connect through a single API — enabling efficient movement between yield-bearing capital and liquid stablecoins across the new internet financial system.
Margin utility for trading
USYC serves as yield-bearing margin or cross-margin collateral on supported exchanges and lending desks, keeping capital productive while securing positions.
Lower barrier to entry
USYC waives subscription and redemption fees on the first $1M of daily volume.¹
What is USYC?
USYC2 is a tokenized money market fund designed to provide yield-bearing collateral with near-instant liquidity.
Traditional money market funds offer exposure to low-risk, yield-bearing assets such as US Treasury bills, but they operate within traditional banking hours and settlement cycles. USYC extends the new internet financial system to institutional trading and treasury, helping firms manage cash and collateral across global markets that don’t wait for banking hours.
Onchain fund structure
USYC is the onchain representation of the Hashnote International Short Duration Fund Ltd., which invests in US Treasury bills and reverse repurchase agreements backed by short-term US government securities. Issuing the fund onchain enables faster settlement, composability, and integration across supported blockchain networks.
Automated and programmable workflows
USYC supports automated interactions through smart contracts, allowing institutions to streamline subscriptions, redemptions, and fund flows as part of broader onchain trading, treasury, and settlement workflows.
Onchain transparency and auditability
USYC activity is visible onchain, enabling real-time tracking, verification, and reporting. This transparency supports operational oversight, auditability, and risk management for institutional participants.
EXPANDING ACCESS FOR MORE FIRMS IN MORE PLACES
Key facts3
USYC technical documentation
Contact our team
New to USYC, and want to learn more or get access? Get in touch.
Looking for technical support?
FAQs
Shares of the Fund and USYC are only available to non-U.S. Persons, as defined under the Securities Act of 1933, as amended. Additional eligibility restrictions may apply. For additional details or to request Fund documentation, please contact customer support.
All transactions are in USDC.
Subscribe at any time, in any size, with near-instant onchain settlement.
Redemptions below the instant-redemption capacity1 settle in one block time, which varies by chain.
Redemptions above the instant-redemption capacity settle T+0 or T+1.
Yes, complete the “Get in touch” form and a Circle representative will be in touch.
USYC invests in short-term, high-quality US government securities and reverse repo.
Each USYC token serves as a digital representation of a share of the Hashnote International Short Duration Fund Ltd. (the “Fund”), a Cayman Islands registered mutual fund. The Fund has appointed Circle International Bermuda Limited (“CIBL”), a Bermuda Monetary Authority licensed digital asset business, as its token administrator, responsible for the management of USYC on behalf of the Fund.
Shares of the Fund and USYC are only available to non-U.S. Persons, as defined under the Securities Act of 1933, as amended.
USYC token balance, yield, and price are streamed to a transparent oracle feed. ERC-20 contract details are verified on Etherscan. SPL-22 token details are found on Solscan.
- Private Liquidity in larger amounts available. Contact your Circle Representative for details.
- USYC is a digital asset token. Each USYC token serves as a digital representation of a share of the Hashnote International Short Duration Fund Ltd. (the “Fund”), a Cayman Islands registered mutual fund. The Fund has appointed Circle International Bermuda Limited (“CIBL”), a Bermuda Monetary Authority licensed digital asset business, as its token administrator, responsible for the management of USYC on behalf of the Fund.
- Arc is an open L1 blockchain launched by Arc Network Services LLC ("Arc LLC") and operated by a permissioned validator set. Arc LLC provides software services only and does not offer regulated financial or advisory services. Arc has not been reviewed or approved by the New York State Department of Financial Services or any other regulatory authority.
The Arc network is provided "as is" and "as available." Use of Arc involves inherent risks associated with blockchain technology, including smart contract vulnerabilities, network disruptions, and the absence of recourse for transaction errors or losses. The ability to transact on Arc depends on the ability to obtain and use USDC to pay gas fees. Neither Arc LLC nor any permissioned validator is responsible for the content, accuracy, legality, or functionality of third-party applications, protocols, or services built on or integrated with Arc. You are solely responsible for features or services you provide to users, including obtaining any necessary licenses or approvals and otherwise complying with applicable laws.
All Arc features may be modified, delayed, or cancelled at any time without notice. Nothing herein constitutes a commitment, warranty, guarantee or legal, regulatory, tax, or investment advice. - Redemptions above this threshold are settled T+0 or T+1. Unlimited instant redemptions are available for a fee.
Shares of the Fund and USYC are only available to non-U.S. Persons, as defined under the Securities Act of 1933, as amended. Additional eligibility restrictions may apply. For additional details or to request Fund documentation, please contact [email protected].