USYC Overview

USYC is available only to entities that are not U.S. Persons, as defined in Regulation S under the Securities Act of 1933. Eligibility restrictions apply. For details, see Investor Onboarding in the Circle Help Center or contact [e-mail].

USYC is the onchain representation of Hashnote International Short Duration Yield Fund Ltd. (“SDYF”). SDYF invests primarily in reverse repurchase agreements (reverse repo) backed by U.S. government securities.

USYC is issued by Circle International Bermuda Limited, regulated by the Bermuda Monetary Authority (BMA), and represents an interest in a Cayman Islands mutual fund licensed by the Cayman Islands Monetary Authority (CIMA).

Interacting with USYC onchain is seamless through an audited smart contract. Subscriptions and redemptions are available 24/7/365 and settle atomically in real time (T+0).

USYC includes the following features:

• Onchain settlement: USYC positions are entered or exited by exchanging USDC. No offchain steps or intermediaries are required.
• Yield profile: Assets earn the overnight federal funds rate through reverse repo agreements.
• Transparency: The token price and fund holdings are published through an onchain Oracle. The token contract is audited and verified on Etherscan.
• Composability: USYC integrates with the existing DeFi ecosystem as a standard ERC-20 token.

To learn how to integrate USYC, see Quickstart: Subscribe and Redeem USYC.

For more information about USYC, see the Circle Help Center.