Sixt Internet Internet Group, Inc. is behind the $58 billion USDC Stablecoin. said Thursday it plans to raise the Hashnote Tokenized Money Market Fund (TMMF), which was recently acquired under Bermuda’s regulatory oversight. The fund, which manages nearly $1 billion in assets, will be incorporated into the Circle’s existing Digital Asset Business Act (DABA) license, the company said in a press release.
According to data from RWA.xyz, Hashnote issues USYC, the largest tokenized money market fund. By integrating USYC with USDC, Circle aims to enhance USYC as a collateral option for Exchange, Custodian and Prime Brokers, allowing for a seamless movement between assets with yield and one of the most widely used Stablecoins.
Circle CEO Jeremy Allaire highlights Bermuda’s role in digital asset regulation, calling it a “natural choice” for USYC operations. The Bermuda Monetary Authority (BMA) first granted the circle a comprehensive license in 2021 and has since maintained its presence in its jurisdiction.
“Digital financial products such as USYC and USDC are strengthening Bermuda’s digital connectivity and leadership in the international business market.”
Prime Minister Bermuda David Burt said in a statement.
