Brief
Issuer of USDC and provider of tokenized-fund and payments infrastructure. USYC represents shares in a short-duration Treasury and reverse-repo fund. Circle xReserve supports USDCx on Canton, which is created by a Canton protocol against USDC deposited on Ethereum.
Primary sources
Checks cover the claims listed below. Other details may still need review.
- Circle: USYC fund structure and redemption (opens in a new tab)
Checked
- Treasury/reverse-repo strategy, Cayman fund with Circle Bermuda token administration, non-US eligibility and capacity-limited instant redemption.
- Circle: USDCx on Canton (opens in a new tab)
Checked
- USDCx is created by a decentralized Canton protocol against USDC deposited in xReserve on Ethereum; it is not native USDC issuance.
- Circle: eight local-currency Mint on/offramps (opens in a new tab)
Checked
- August 18 Mint expansion to eight currencies with in-product FX and regional eligibility.
- Circle: Mint France stablecoin payouts (opens in a new tab)
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- Circle Mint France opened its Payouts API to eligible European partners. Businesses can automate third-party USDC and EURC payouts to hosted wallets, extending Circle's institutional payment tools into Europe.
- Circle: cirBTC Ethereum launch (opens in a new tab)
Checked
- Circle launched cirBTC on Ethereum, a wrapped-bitcoin token backed 1:1 by BTC. The release expands Circle's collateral infrastructure beyond stablecoins; Arc and further multichain support were still planned.
Recent activity
Latest moves on the changelog feed.
- Aug 18, 2026NEW
Circle Mint expanded to eight local-currency on/offramps, handling FX inside Mint. Eligible institutions can move local currency into USDC without a separate conversion leg; availability varies by region.
- Jul 1, 2026NEW
Circle Mint France opened its Payouts API to eligible European partners. Businesses can automate third-party USDC and EURC payouts to hosted wallets, extending Circle's institutional payment tools into Europe.
- Jun 8, 2026NEW
Circle launched cirBTC on Ethereum, a wrapped-bitcoin token backed 1:1 by BTC. The release expands Circle's collateral infrastructure beyond stablecoins; Arc and further multichain support were still planned.
Snapshot
Key terms and identifiers.
- Asset classes
- Treasuries
- Token standards
- erc-20, erc-7528
- Regulatory
- us-stablecoin-acts, mica, trump-eo-digital-assets
- Jurisdiction
- USEU
- Analytics
- defillama.com/stablecoin/usdc
Milestones
How this player got here.
- Aug 2026Circle Mint expanded to eight local-currency on/offramps
- Jul 2026Mint France opened USDC and EURC third-party payouts
- Jun 2026cirBTC launched on Ethereum with Arc support planned
- Mar 2026USYC overtook BUIDL as largest tokenized treasury at ~$2.2B
- Jun 2025IPO on NYSE at ~$6.7B valuation
- Mar 2025USDC crosses $60B market cap
- Jan 2025Acquired Hashnote and USYC ($1.3B tokenized money market) with DRW liquidity partnership
- Jan 2025IPO filing (S-1)
- Jun 2024USDC native on 14 chains
Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
