Circle’s Bermuda Adventure: $1B Fund Goes Tropical! 🌴💰

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What to know:

  • So, Circle, the cool kid on the block with the $58 billion USDC stablecoin, is taking its new toy, the Hashnote Tokenized Money Market Fund, to Bermuda. Because why not? 🌊
  • Hashnote is like the big boss of tokenized money market funds, flaunting nearly $1 billion in assets. Talk about a flex! 💪
  • Circle’s CEO, Jeremy Allaire, thinks Bermuda is the “natural choice” for USYC operations. I mean, who wouldn’t want to work in paradise? 🏖️

On this fine Thursday, Circle Internet Group, Inc. announced its grand plan to bring the Hashnote Tokenized Money Market Fund (TMMF) under Bermuda’s watchful eye. Because nothing says “trustworthy” like a tropical island, right? 🍹

Hashnote is the proud parent of USYC, the largest tokenized money market fund, according to some fancy data from rwa.xyz. By merging USYC with USDC, Circle is basically saying, “Let’s make moving money as easy as a beach stroll!” 🏝️

Jeremy Allaire, the big cheese at Circle, is all about Bermuda’s digital asset regulation. He’s like, “This is the place to be!” The Bermuda Monetary Authority (BMA) gave Circle a shiny license back in 2021, and they’ve been living the dream ever since. 🌟

“Digital financial products like USYC and USDC are strengthening Bermuda’s digital connectivity and our leadership in international business markets,” said Premier of Bermuda, David Burt, probably while sipping a piña colada. 🍍

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2025-03-13 17:10