Circle to expand tokenized money market operations in Bermuda

Circle Internet Group extends its tokenized financial services to Bermuda.

The company will bring the tokenized Money Market Hashnote under its existing license to the law on digital assets with Bermuda Monetary Authority, according to a press release from the company.

Hashnote delivers USYC, and Money market funds in Tokenized This held nearly a billion dollars in assets on March 6, 2025. The money market funds in Tokenized work similarly to those traditional but are represented as digital assets on blockchain networks. Because they exist in digital form, investors can buy and sell shares of these funds more easily.

Circle plans to integrate the USYC with the USDC (USDC), its widely used stableallowing users to move together in a transparent manner.

Collateral USYC

This decision could position the USYC as a key guarantee form for crypto exchanges, guards and financial companies that manage digital assets. The guarantee refers to the assets that traders and institutions are committed to supporting loans or financial transactions.

Circle has been working in Bermuda since 2021 as part of the BMA regulatory framework. The CEO of the company, Jeremy Allaire, said that the Bermuda approach in terms of digital asset regulation makes it a natural adjustment for the expansion of the circle tokenized monetary market operations.

By binding the USDC to the USDC, Circle aims to offer a more flexible means to institutions to access liquidity while gaining the performance of the underlying assets of the USYC, which include US Treasury bills and other short-term investments.