Binance Adds Circle's USYC Among Others as Collateral for Institutional Investors

On July 24, Binance, the world's largest cryptocurrency exchange, announced the addition of two types of tokenized real-world assets (RWA) to its off-exchange settlement service for institutional investors. The yield-bearing stable assets, USYC and cUSDO, are now available as collateral, aiding in the enhancement of capital efficiency for institutional investors. USYC is a tokenized money market fund issued by Hashnote, which was acquired by Circle in January this year, holding approximately $680 million in assets. It primarily invests in repurchase agreements backed by U.S. Treasuries and offers an instant redemption feature to USDC.