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Circle's USYC asset management scale surpasses $3 billion, becoming the world's largest tokenized money market fund
ME News Report, May 7 (UTC+8), Circle officially announced that its USYC asset management scale has exceeded $3 billion, becoming a leading tokenized money market fund globally. This development demonstrates the continued growth trend of tokenized money market funds, indicating that collateral on the blockchain is increasingly influential in the digital asset space. USYC is a product by Circle that tokenizes traditional money market funds using blockchain technology, designed specifically for institutional investors to hold, trade, and manage profitable assets on-chain. The fund primarily invests in short-term U.S. Treasury securities and U.S. government-backed repurchase agreements. (Source: MLion)