Circle, the company behind the widely-used USDC stablecoin, has acquired Hashnote, a firm specializing in issuing tokenized real-world assets (RWAs). The acquisition was officially announced today at the World Economic Forum in Davos, Switzerland.
Hashnote has over $1.3 billion in USYC tokens under its management, making it the largest tokenized U.S. Treasury product, according to rwa.xyz. While the purchase price remains undisclosed, the strategic acquisition underscores Circle’s ambitions to bridge the gap between traditional and blockchain-based financial markets.
In a press release, Circle outlined its plan to integrate USYC with USDC, enabling seamless exchanges between cash and yield-generating blockchain assets. “This marks a major milestone for a market increasingly shaped by institutional adoption,” stated Circle CEO Jeremy Allaire.
Circle is also collaborating with Cumberland to simplify buying and selling tokenized assets, with the goal of establishing USYC as a standard collateral option across exchanges and custodial platforms.
In addition, Circle intends to introduce USDC to the Canton Network, a blockchain designed for banks and financial institutions trading real-world assets. This move aims to enhance interoperability and foster smoother transactions between decentralized and traditional financial ecosystems.
The acquisition highlights Circle’s commitment to advancing the utility of digital assets and expanding their role in global financial markets.
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