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The tokenized currency market fund USYC under Circle has launched on the Solana network, exclusively for non-US institutional investors.
PANews October 1 news, according to the official blog, Circle announced that its tokenized money market fund USYC is now available on the Solana blockchain. USYC is a tokenized fund share launched by Circle, representing ownership of a short-term U.S. government money market fund and eligible for returns from the underlying assets. The official emphasized that USYC is only applicable to qualified non-US institutional investors who have completed KYC/AML and passed wallet whitelist verification, and it is a permissioned Token. On Solana, USYC can be used as an interest-bearing asset in lending protocols, margin collateral in perpetual DEXs, or deployed to automated yield vaults. In addition to Solana, USYC has previously supported networks such as Base, Ethereum, and NEAR.