Circle aims to bring $900M money market fund under Bermuda regulatory oversight

From Cointelegraph

March 13, 2025 1:50:00 pm:

Circle announced plans to bring Hashnote Tokenized Money Market Fund under Bermuda regulatory oversight with its existing DABA license. Hashnote, issuer of USDY, has a TVL of $900 million. Circle aims to integrate USDY with USDC for yield-bearing collateral access on crypto exchanges. Bermuda enacted a regulatory framework for digital assets.

Tokenized real-world assets present a $30-trillion market globally, with tokenized US Treasurys expected to surpass $3 billion market cap. The RWA market cap exceeded $15.2 billion at the end of 2024, driven by institutional players. Tokenization provides liquidity for illiquid assets and efficient transparent transactions in multiple asset types.

Read more at Cointelegraph: Circle plans to bring $900M money market fund under DABA license