Circle Internet Group, the issuer of the USDC stablecoin, plans to integrate its Hashnote Tokenized Money Market Fund (TMMF) under Bermuda’s regulatory framework, leveraging its existing Digital Assets Business Act license. This move follows Circle's acquisition of Hashnote earlier this year, which has nearly $1 billion in assets and issues USYC, one of the largest tokenized money market funds. By linking USYC with USDC, Circle aims to facilitate the transition between yield-bearing assets and stablecoins, enhancing USYC's position as collateral on exchanges and with prime brokers. Circle CEO Jeremy Allaire highlighted Bermuda’s favorable regulatory environment for digital assets, calling it a natural fit for USYC operations. The Bermuda Monetary Authority granted Circle a comprehensive license in 2021, supporting its ongoing initiatives in the region. Premier David Burt noted that digital financial products like USYC and USDC contribute to strengthening Bermuda's digital connectivity and international business leadership.

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