Circle's USYC Now Supported as Yield-Bearing Off-Exchange Collateral for Binance's Institutional Clients
Integration enables trading collateral backed by tokenized interests in U.S. Treasuries with near-instant USDC fungibility
Circle Internet Group, Inc. (NYSE:CRCL) today announced a new collaboration with Binance, the world's leading blockchain ecosystem and digital asset exchange. Together, Circle and Binance are accelerating support to meet the growing demand for tokenized Real-World Assets among Binance's institutional clients.
As part of this effort, Binance institutional customers can now hold Circle's USYC – one of the world's leading tokenized money market funds (TMMFs) – and use it as off-exchange collateral for derivatives trades, unlocking more opportunities for yield in a way that is modeled after practices in traditional financial markets. USYC will be kept with supporting banks through Binance Banking Triparty, or with Ceffu, Binance's institutional custody partner. Further, USYC will be natively issued on BNB Chain, enabling USYC users to more seamlessly explore the onchain world and potential of tokenized traditional assets.
This partnership comes amid surging demand in the broader market for tokenized interests in US Treasuries, which has nearly doubled since the start of 2025. USYC offers near-instant fungibility with USDC. This enhances capital efficiency for USYC users, who can now move across tokenized cash and Treasuries in near-real time.
"USYC's integration with Binance unlocks new possibilities for institutional capital efficiency," said Kash Razzaghi, Chief Business Officer at Circle. "Its near-instant redemption into USDC makes it an obvious fit for modern collateral use in digital markets."
Catherine Chen, Head of Binance VIP & Institutional added, "We're committed to building secure, accessible, and capital-efficient offerings for institutions. The integration of USYC into Binance's trading environment represents a major step forward in our support for the future of capital markets."
Learn more about USYC here.
Disclaimer
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.
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 please contact [email protected].
The content, information, documents, and other materials contained herein (collectively referred to as, "Content") may not be available for residents of certain jurisdictions, including without limitation, to persons located in the United States. Content made available herein is provided for educational and informational purposes only and does not constitute, and should not be construed as: (i) an offer to sell or a solicitation of an offer to buy any security, financial instrument, or other product: (ii) a recommendation, endorsement, or solicitation to engage in any investment strategy; or (iii) legal, tax, accounting, regulatory, or investment advice. An offer to sell or a solicitation of an offer to buy Fund interests and USYC is only made to eligible investors through the Fund's offering documents which contain important information about certain risks, fees and expenses, and other material information related to an investment in the Fund.
About Circle Internet Group, Inc.
Circle (NYSE:CRCL) is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce, and financial applications worldwide. Circle is building the world's largest, most-widely used, stablecoin network, and issues, through its regulated affiliates, USDC and EURC stablecoins. Circle provides a comprehensive suite of financial and technology services that empower enterprises and developers to integrate stablecoins and blockchains into their products, services and business operations. For more information visit www.circle.com.
About Binance
Binance is a leading global blockchain ecosystem behind the world's largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 280 million people in 100+ countries, for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com
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