Circle Enters Tokenization Race by Acquiring Hashnote, $1.3B Real-World Asset Issuer

Circle, the crypto company behind the $48 billion USDC stablecoin, said Tuesday it has acquired tokenized real-world asset (RWA) issuer Hashnote.

The companies closed the deal this morning, a Circle spokesperson told CoinDesk and was announced in Davos, Switzerland during the annual World Economic Forum meeting. The companies didn’t reveal pricing details.

Circle aims to integrate USYC with USDC, Circle’s flagship stablecoin, enabling convertibility between cash and yield-bearing collateral on blockchains, the press release said. Hashnote issues the $1.3 billion USYC token, which saw massive growth last year to become the largest tokenized U.S. Treasury product on the market, according to rwa.xyz data.

Circle’s CEO, Jeremy Allaire, said this marks a significant step toward aligning traditional financial structures with the speed and transparency of blockchain-based

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