Circle (CRCL), Crypto Company, known for its USDC StableCoin, introduced its tokenized US Ministry of Finance on Wednesday, and expands his footprint to Blockchain, known for low cost transactions and fast settlement times.
The move is expanding the Usyc token beyond Ethereum, near, base and canton network and the planned addition of the BNB chain.
Usyc is a tokenized version of a US Government Market Fund with short duration. The fund can be redeemed in real time in USDC, Circle’s dollar-backed stableecoin, and is only available to non-American institutional investors passing well-known-your-kundes (KYC) controls. This is allowed usyc by design as opposed to other tokens that are often used in decentralized financing (DEFI).
The wider tokenized Treasury Market has recently seen explosive growth and swelling of almost $ 8 billion today from $ 2.4 billion a year, RWA.xyz shows. This increase reflects the growing institutional appetite for assets in the real world (RWAs) on blockchain rails, especially dividend public securities. They are increasingly used as a security for loans and margin trading or as a building block for other dividend -generating strategies.
With a market capital of $ 635 million, Usyc is the fifth largest tokenized Finance Ministry, according to data from RWA.xyz.
Solana’s integration adds new potential application cases, including using Usyc as margin security for derivatives trading or as a yield asset in Solana-based decentralized financing platforms (DEFI). However, the USYC protocols to integrate eligibility control and wallet allowed listing require an obstacle that many applications need further development to support it.
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