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Circle has made a significant move by integrating its Hashnote Tokenized Money Market Fund (TMMF) under the regulatory framework of Bermuda. This strategic decision underscores the company’s commitment to compliance and investor security.
The move aligns with Circle’s larger goal of creating a more regulated and stablecoin ecosystem, boasting $1 billion in assets under management. The integration of TMMF under Bermuda’s regulation is a crucial step towards achieving this objective.
Circle has been actively working on strengthening its regulatory footing by obtaining approval from the Bermuda Monetary Authority (BMA) to operate its digital asset company since 2021. This move showcases Circle’s dedication to providing a safer environment for investors, ensuring that the assets managed remain within a stable and regulated context under strict regulatory control.
As part of this integration, USYC – the money market fund of Hashnote – will now be more closely linked with the USDC stablecoin, enabling users to seamlessly transition between assets. This significant development is expected to have a profound impact on the global financial landscape.
