01 /
Brief
USDC $76B. USYC $2.4B treasury yield product. USDC co-created with Coinbase. Circle now also powers USDCx on Canton for private, programmable institutional settlement.
02 /
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
03 /
Milestones
How this player got here.
- 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
04 /
Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
