Binance May Expand Institutional Collateral Options by Adding Circle’s USYC Token
Main Idea
Binance has integrated Circle’s USYC token as approved collateral for OTC derivatives trading, enhancing institutional crypto trading and expanding the use of tokenized fixed-income products.
Key Points
1. Binance incorporated Circle’s USYC token as collateral for OTC derivatives trading, broadening Treasury-linked instruments.
2. USYC is natively supported on Binance’s BNB Chain, offering fixed-income exposure within the crypto derivatives ecosystem.
3. USYC is backed by Treasury securities and leverages Circle’s acquisition of Hashnote, a tokenization platform.
4. Nearly $700 million in assets tied to U.S. government debt are represented on-chain, many associated with USYC.
5. The integration may encourage further adoption of tokenized fixed-income products in digital markets.
Description
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