Demex Daily #332: Circle Acquires Hashnote to Boost USYC as Crypto Collateral

What’s Interesting Today:

Circle has acquired Hashnote, the issuer of US Yield Coin (USYC), a tokenized real-world asset fund, with the aim of making USYC a preferred form of yield-bearing collateral on crypto exchanges and with institutional partners. This acquisition strengthens Circle’s presence in the growing market for tokenized money market funds. Circle plans to integrate USYC with its stablecoin, USDC, to improve collateral management, collaborating with institutional partners like DRW. The tokenized real-world asset market, including products like U.S. Treasury bonds, is expected to see significant growth.

Telegram has entered an exclusivity deal with The Open Network (TON), making it the sole blockchain for crypto apps and games within Telegram. This partnership mandates that Telegram mini apps, including games, must use TON for crypto integrations. Existing apps on other blockchains, like Sui or Aptos, must migrate to TON to maintain crypto functionality. Telegram will provide grants for projects that migrate within 30 days. This deal strengthens TON's global position, following increasing integration with Telegram, such as the TON Wallet and crypto-based features.

Trade THE OPEN NETWORK TON-PERP on Demex