01 /
Brief
USYC represents shares in Hashnote International Short Duration Yield Fund, a Cayman-registered mutual fund investing in US Treasury bills and reverse repos. Circle International Bermuda is its token administrator. Available to eligible non-US investors, with subscriptions and redemptions in USDC; instant redemptions depend on available capacity.
02 /
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.
03 /
Snapshot
Key terms and identifiers.
- Asset value
- $2.92B
- Fee
- Performance fee (not flat)
- Custodian
- BNY Mellon
- Min investment
- $100K
- Structure
- Cayman registered fund (CIMA)
- Chains
- Ethereum, Solana, Base, Canton, NEAR, Noble, BNB Chain
- NAV frequency
- Daily
- Investor type
- Non-US institutions
- Spec type
- fund
- As of
- 2026-06
- Asset classes
- Treasuries
- Token standards
- erc-20, eip-4626
- Regulatory
- sec-reg-d
- Jurisdiction
- US
- Analytics
- app.rwa.xyz/assets/USYC
04 /
Milestones
How this player got here.
- Jan 2026Surpassed BUIDL as largest tokenized treasury fund
- Jan 2025Acquired by Circle alongside DRW liquidity partnership
- Jan 2024Launched as Hashnote tokenized money market fund
05 /
Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
