Circle Internet Group, Inc., the company behind the stablecoin of $ 58 billion USDC, said on Thursday that it planned to carry its recently acquired Hashnote monetary market (TMMF) under the regulatory supervision of Bermuda. The fund, which manages nearly a billion dollars in assets, will be integrated into the license of the law on digital activities on digital assets of Circle (DABA), the company said in a press release.
Hashnote emits Usyc, the largest token monetary market fund, according to Rwa.xyz data. By integrating the USYC with the USDC, Circle aims to allow a transparent movement between an active active performance and one of the most used stable and boosts ascy as a collateral option on exchanges, guardians and first -rate brokers.
The CEO CEO, Jeremy Allaire, underlined the role of Bermuda in the regulation of digital assets, calling it a “natural choice” for the USYC operations. The monetary authority of the Bermuda (BMA) first granted Circle a complete license in 2021, and the company has since maintained a presence in the jurisdiction.
“Digital financial products such as USYC and USDC strengthen the digital connectivity of Bermuda and our leadership on international trade markets”.
Bermuda Prime Minister David Burt said in a statement.
