On Wednesday, Stablecoin Emittent Circle has extended the availability of his tokenized Geldmarktfonds, UYC, to the Solana Blockchain. The company said it represents token shares in a TMMF of the US government of the short duration.
UYC can be exchanged in real time for USDC, Circle’s dollar-backed stablecoin. Token is currently only available for non-American institutional investors who continue with Know-Your-Customer (KYC) Check.
Circle strives to expand UYC outside of other block chains
UYC is now available on @Solana!
UYC is a tokenized money market fund that proceeds through token price increases and exchanges from/to USDC Onchain.
Daily prices. SPL-NATIVE Integration. Oracle-driven updates.
Collective in many locations is static. Proceeds are not recorded. … pic.twitter.com/zkgxarvrqz
– Circle (@Circle) October 1, 2025
UYC is permitted by design, compared to other digital assets that are often used in decentralized finances (Defi). The initiative is intended to expand UYC outside Ethereum, BNB chain and the planned addition of near and Canton networks.
Circle recognized That it opted for Solana for its design characteristics, which were designed for transaction attachments with low latency and high transit. The company also noted that Tokens on Solana were compiled via the Solana Program Library (SPL), which makes deterministic settlement and granular control level control possible.
Circle confirmed that participants in Solana can include UYC as a tokenized Geldmarktfonds (TMMF) for borrowing and loans. The company stated that UYC on the credit market enables the sign to serve as a return-bearing collateral, so that suppliers can earn the underlying return of the fund and at the same time offer liquidity. UYC will also enable borrowers to experience lower net interest costs, because the posted collateral continues to build up.
Participants in Solana can usage UYC as a margin -under building on derivatives on perpetual DEXs to build up the yield during trading activities. They can also implement USYC as a basic active interest rates, of which Circle said they will place programmatic strategies in addition to the daily price updates of the fund.
Circle also warned that developers may have to be qualified before they are underboard on board UYC. The company stated that participants can implement token and guardianship flows with the help of the SPL token-2022 program, which confirms that only eligible portfolios may deposit and record.
Participants can also block non-intended transfers in the programmogica as soon as their program manages custody. Participants in Solana will then repeat the UYC-PRIJS-Pers sharing feed and can use it to stimulate interest rates, risk parameters and liquidation logic.
Circle claimed that USYC functions are programmable and have a yield-accumulating collateral, since the structure takes place via the token price, so that the need for individual reward claims is removed. The company explained that near-real-time repayments and delivery in USDC support the operational liquidity of the token and re-balance the collateral.
Circle acquires UYC’s Emittent Hashhnote
Cryptopolitan earlier reported Hashhnote, the issue of UYC, acquired that circle in January. The company said that the integration of UYC with USDC will enable the Tokenized Fund as a preferred form of revenue collateral in the crypto sector.
“The integration of UYC and Hashhnote in the Platform of Circle marks an important moment in the evolution of the Stablecoin market, because cash and yielding short-term treasury invoice assets become functional and convertible on the speed of blockchains and crypto capital markets.”
~ Jeremy AllaireCEO and chairman of Circle
Allaire also stated that Circle has invented cash and now leads the Tokenized money market sector, which he believes will become essential for the future of the global financial system. CEO of Hashhnote, Leo Mizuhara, explained that the initiative to join Circle improves the capacity of the company to quickly scale the acceptance by linking USDC to UYC.
RWA.XYZ data revealed that UYC is in fifth place under tokenized Treasury products, with a market capitalization of $ 634 million. The data also shows that the wider tokenized treasury market has grown to $ 8 billion, driven by the institutional demand for return-bearing digital assets supported by Real-World effects.
JPMorgan analysts also attributed strong growth to supplying supporting stablecoins, a category that inclusive Tokenized Money Market Funds (MMFS) and Treasury Bill products. Nikolaos Panigirtzoglou, director of JPMorgan, believes that Tokenized Treasury products can grow to represent no less than half of the Stablecoin market. He also thinks that tokenized MMFs will probably take the lead in scenarios in which Stablecoins do not continue to offer any yield.