BREAKING NEWS: 3 Big Announcements from @Circle. 1) We have acquired Hashnote, issuer of the world’s largest Tokenized Money Market Fund (USYC); 2) we have entered into a strategic partnership with global trading firm DRW to drive USDC and USDY in crypto and TradFi markets; and 3) we have announced our plans to launch USDC, alongside USYC, on the Canton blockchain network. https://www.circle.com/pressroom/circle-announces-acquisition-of-hashnote-and-usyc-tokenized-money-market-fund-alongside-strategic-partnership-with-global-trading-firm-drw Let me break all of this down. First, we are thrilled to bring the Hashnote team and family into Circle. As one of the leading pioneers of tokenization (USDC is arguably the largest form of regulated tokenized cash in the world), we have seen a rapid shift towards tokenized treasury assets through TMMFs. There is an enormous and immediate opportunity to bring yield-bearing collateral into crypto market structures, and through seamless integration with USDC, enable market participants to convert between USDC and USYC on a 24/7/365 basis. Hashnote has been a pioneer and is the largest issuer of TMMFs in the world today. As more and more institutions get involved in the digital asset market, we are taking what are common practices in traditional finance and importing those onchain, but with the incredible super powers of global, real-time settlement, programmability and composability. Indeed, one of the holy grails of capital markets is the ability to move between cash and collateral instantly. We are unlocking this with a focus on the well established crypto capital markets. With DRW, we are expanding on an already strong and nearly 10 year working relationship with DRW subsidiary Cumberland. Don Wilson is a true visionary in markets, and Cumberland continues to be one of the largest and most important global trading firms in crypto. Through this expanded partnership, Cumberland will expand its liquidity and settlement services for USDC and USYC, driving broader institutional adoption in crypto. Additionally, we will work together to bring these onchain innovations into traditional financial markets, where tokenized cash and collateral can unlock enormous value for every financial market participant. And on this note, Circle is also announcing its planned deployment of native USDC on Canton, the leading public blockchain for fully private and secure financial applications. With over 3.6 trillion in RWA issued and over 1.5 trillion repo/month, Canton is already used and supported by major traditional banks, trading firms, asset managers and exchanges. With USYC already supported on Canton, offering native USDC integration will enable a seamless and 24/7/365 convertibility between collateral and cash for use in TradFi markets onchain. TLDR – Circle is leading the way in bringing the most important building blocks of money onchain, fostering a more scalable model of global institutional adoption of crypto infrastructure, while also paving the way for onchain money to become the core of traditional financial markets. Stay tuned for a lot more on all of these fronts! Jeremy