Circle (CRCL), the cryptographic company known for its USDC stablecoin, presented its US Treasury offer on Wednesday.
The movement expands the Token USYC beyond Ethereum, nearby networks, base and cantons and the planned addition of the BNB chain.
USYC is a tokenized version of a Fund of the Mercado Mercado of the United States Government of short duration. The fund can be redeemed in real time at the USDC, Stablcoin backed by dollar Circle, and is only available for non -American institutional investors who pass knowledge controls (KYC). That makes USYC per design, in contrast to other chips commonly used in decentralized finances (DEFI).
The broader treasure market has recently seen explosive growth, swelling almost $ 8 billion today of $ 2.4 billion in a year, according to Rwa.xyz data. This increase reflects the growing institutional appetite of real world assets (RWAS) in the Blockchain rails, particularly the governmental values ​​that carry the performance. They are increasingly used as a guarantee for loans and margin trade, or as a construction block for other performance generation strategies.
With a market capitalization of $ 635 million, USYC is the fifth largest tokenized treasure fund, according to RWA.XYZ data.
Solana integration adds new potential use cases, including the use of USYC as a guarantee of margin for derivatives or as a performance asset in decentralized finance platforms (DEFI) based on Solana. However, USC requires that the protocols integrate eligibility verifications and the wallet list, an obstacle that many applications will need a greater development to support it.
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