#usyc

[rwatimes]

Circle introduces USYC zero-fee tier for $1M daily volume access

Circle launches a zero-fee tier for USYC, waiving subscription and redemption fees on up to $1M daily volume per wallet on Ethereum and Solana.

➤ Circle has introduced an automatic zero-fee tier for its tokenized U.S. Treasury fund (USYC), waiving fees on daily volumes up to $1 million across Ethereum and Solana. ➤ USYC, a tokenized version of the Hashnote International Short Duration Yield Fund, offers institutional investors (excluding U.S. persons) a bridge between traditional Treasury investing and on-chain activities, with approximately $3 billion in assets under management. ➤ This move is a competitive strategy to attract institutional capital in a growing market, reinforcing Circle's USDC ecosystem, while underlying risks such as smart contract and regulatory uncertainty remain.

[rwatimes]

What Are Tokenized Treasuries? Structure and Eligibility Explained

Tokenized US Treasuries hold $15.20 what are tokenized treasuries billion across 76 products. Learn how BUIDL, BENJI, USYC, and USDY differ.

➤ Tokenized US Treasuries have grown significantly, reaching $15.20 billion across 76 products, driven by major issuers like Circle, BlackRock, and Ondo Finance. ➤ Two primary structures exist: tokenized regulated fund shares and offshore wrapper debt tokens, each with distinct eligibility, redemption, and tax implications. ➤ While most products are for Qualified Purchasers or non-US persons, Franklin Templeton's BENJI offers a retail-eligible option, highlighting the evolving landscape of institutional and retail access to on-chain Treasury exposure.

[rwatimes]

On-Chain to RWA. The New DeFi Base Built on Yield-Bearing Stablecoins

Ethena's sUSDe supply has dropped 49% over 90 days, while capital flowed into lower-yielding USYC and sUSDS. The shift reveals that APY no longer drives allocation decisions. Instead, collateral composition, institutional adoption, and predictability now define the yield-bearing stablecoin (YBS) landscape. S&P assigned its first-ever DeFi credit rating to Sky Protocol while flagging USDe with a 1,250% risk weight. In response, Ethena restructured its collateral framework in April 2026, transitioning from a synthetic to a hybrid model. This report examines how DeFi is rebuilding its foundation by importing TradFi yield sources on-chain.

➤ The DeFi landscape is shifting from native yield generation to importing yield from traditional finance, with yield-bearing stablecoins (YBS) becoming a foundational element. ➤ Ethena's sUSDe has seen a significant supply drop, not due to failure, but a market rotation towards YBS with more predictable collateral composition and institutional adoption, like Circle's USYC. ➤ The trend indicates a move towards stability and composability over pure APY, with YBS evolving to incorporate diverse TradFi yield sources and becoming infrastructure for new DeFi innovations.

[rwatimes]

Tiger Research: DeFi Is No Longer Chasing High Yields—Yield-Bearing Stablecoins Are the New Infrastructure

➤ DeFi is shifting from generating yield to importing and distributing yield from traditional finance, with a focus on verifiable, collateralizable yield-bearing stablecoins (YBS) over high APYs. ➤ Institutional recognition, such as S&P's credit rating for Sky Protocol and risk weighting for USDe, is reshaping market dynamics, favoring predictable yield sources like Treasury-backed stablecoins. ➤ Ethena is overhauling its collateral structure to incorporate traditional finance assets, acknowledging that a single yield source based solely on crypto is no longer sufficient for the YBS market.

[rwatimes]

Tokenized U.S. Treasury Bonds Hit $13.7 Billion, Stablecoin Market Poised for 10x Growth by 2030

Tokenized U.S. Treasuries hit $13.7B, becoming key for stablecoins. Market expected to grow 10x by 2030, adding $2.7T in USD supply on-chain.

➤ Tokenized U.S. Treasury bonds have reached $13.7 billion in market size, serving as crucial infrastructure for stablecoin issuers. ➤ Leading tokenized Treasury products include USYC ($3B), BUIDL ($2.7B), and IBENJI ($1.5B). ➤ The stablecoin market is projected to grow tenfold by 2030, potentially adding $2.7 trillion in on-chain USD supply.

[rwatimes]

USDC Takes 63% of Q1 Stablecoin Volume; Circle Says USYC Is Top Tokenized MMF

Circle's stablecoin USDC accounted for 63% of total stablecoin on-chain transaction volume in the first quarter, highlighting its growing market prese

➤ USDC dominated Q1 stablecoin volume with 63% market share, showing significant growth in circulation and transaction volume. ➤ Circle's tokenized money market fund, USYC, has become the largest globally, indicating Circle's expansion into digital financial infrastructure. ➤ The company's financial performance also saw substantial increases in revenue and adjusted EBITDA.

[rwatimes]

BNB Price Breakout Targets $670 Amid $3.5B Treasury Growth

BNB price closed above the important $645.81 resistance level. Tokenized treasury assets on BNB Chain approach $3.5 billion

➤ BNB price has broken above the $645.81 resistance level, targeting $670, supported by increased tokenized treasury activity on BNB Chain. ➤ Tokenized treasury assets on BNB Chain have grown to approximately $3.5 billion, with specific assets like USYC, BUIDL, iBENJI, and vBILL mentioned. ➤ The growth in tokenized treasuries and institutional participation is strengthening the BNB Chain ecosystem, though overall market volatility remains a factor.

[rwatimes]

USYC has passed $3 billion in AUM.

USYC has passed $3 billion in AUM. This milestone reflects continued momentum in tokenized money market funds and growing demand for onchain collateral across digital asset markets. As adoption expands, tokenized fund infrastructure is becoming a more important part of how capital moves onchain.

➤ USYC, a tokenized money market fund, has surpassed $3 billion in Assets Under Management (AUM), indicating strong growth and demand. ➤ This milestone highlights the increasing importance of tokenized funds as on-chain collateral and treasury infrastructure. ➤ The development signifies institutional capital's growing interest in regulated, yield-bearing assets within digital markets.