Circle, the issuer of the stablecoin USDC, has announced its acquisition of Hashnote, the company behind the tokenised treasury money market fund USYC. This strategic move aims to integrate USYC with USDC, enhancing its utility as a yield-bearing collateral on crypto exchanges, custodians, and prime brokers.

The integration is part of Circle's broader strategy to provide seamless access between TMMF collateral and USDC, marking a significant development in the stablecoin market. This initiative is further supported by a partnership with DRW affiliate Cumberland, which will leverage its liquidity capabilities to bolster the adoption of both USDC and USYC.