Ethereum
BaseUSYC is the on-chain representation of the Hashnote International Short Duration Yield Fund, invested in reverse repo and US government securities. Acquired by Circle in 2025, USYC pairs native convertibility with USDC and serves as preferred yield-bearing collateral on major derivatives venues.
Circle-owned tokenized yield fund powering yield-bearing collateral.
Prism analyst note
USYC's edge is convertibility: Circle ownership gives it a near-native bridge to and from USDC, making it the working-capital treasury token of choice for trading firms. TVL is cyclical: it swells when perp-market basis trades are attractive and shrinks when they are not, so headline AUM should be read as trading-desk demand rather than sticky savings. Overnight repo composition keeps duration risk near zero.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
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Prism read this token's contract directly on its chain and confirmed the figures the issuer publishes.
- What was checked
- Prism read this token's contract on Ethereum and confirmed the symbol, decimals, and supply the issuer publishes.
- Source
- Circle / Hashnote
- Last verified
- Jan 10, 2026
- Token contract
- 0x1364…9f2b
- Custody
- BNY Mellon / prime brokerage arrangements
Structure & compliance
Documents & disclosures
Frequently asked
Why did TVL fall from its 2025 peak?+
USYC AUM tracks demand for yield-bearing exchange collateral, which contracted as funding-rate trades compressed after Q1 2025.