Circle Internet Group, Inc., the company behind the Stablcoin of $ 58 billion of USDC, said Thursday that it plans to bring its Tokenized Monetal Market Fund (TMMF) of hashnote recently acquired under the regulatory supervision of Bermuda. The fund, which administers almost $ 1 billion of assets, will be incorporated into the license of the existing digital asset business law (DIABA), the company said in a press release.
Hashnote issues Usyc, the largest tokenized money market fund, according to data rwa.xyz. By integrating USC with USDC, Circle aims to allow a movement without problems between an asset that supports performance and one of the most used stable and increase USYC as a collateral option in exchanges, custodians and main corridors.
The CEO of Circle, Jeremy Allaire, emphasized the role of Bermuda in the regulation of digital assets, calling it a “natural choice” for Usyc operations. The Bermuda monetary authority (BMA) granted for the first time to the circle an integral license in 2021, and the company has maintained a presence in the jurisdiction.
“Digital financial products such as USC and USDC are strengthening the digital connectivity of Bermudas and our leadership in international commercial markets,” ”
Bermuda Prime Minister David Burt said in a statement.
