Circle plans to bring $900M money market fund under DABA license

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The story "Circle plans to bring $900M money market fund under DABA license" was covered 1 days ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 1d ago

Circle plans to bring $900M money market fund under DABA license - Coin Telegraph

Quick Summary:

Circle, the creator of stablecoin USDC (USDC), announced on March 13 plans to bring its Hashnote Tokenized Money Market Fund (TMMF) under Bermuda regulatory oversight through the company’s existing Digital Assets Business Act (DABA) license.

Also, in August 2024, it was predicted that tokenized US Treasurys would surpass a $3 billion market capitalization by the end of 2024.According to RWA.xyz, the tokenized US Treasurys market cap sits at $4.2 billion at the time of this writing.Hashnote is the No.2 protocol for tokenized US Treasurys, according to the platform, although its market cap has fallen 21% in the past 30 days.

Related: Infrastructure for legally viable RWA tokenization: AMA recap with MantraThe overall market cap for RWAs surpassed $15.2 billion at the end of 2024, driven largely by institutional players who piloted tokenization projects related to a host of real-world goods, including real estate, gold, diamonds and carbon credits.