Deployments · Binance off-exchange collateral · platform by Binance
Circle USYC as off-exchange collateral on Binance
Binance institutional clients can post USYC, a token representing shares in the Hashnote International Short Duration Fund managed by Circle's Bermuda arm, as collateral for derivatives while holding it with a bank through Binance's tri-party set-up or with Ceffu. Launched in July 2025, with USYC issued natively on BNB Chain. Open to non-US persons only.
AnnouncedProof of conceptPilotLive (limited)Live (scaled)
Live (limited) since 24 Jul 2025[1] — Eligible non-US institutional clients only; no pledged amounts disclosed. · Reviewed today
- Assets
- Use cases
- Collateral mobility[1]
- Jurisdictions
- Global
Participants
- CircleIssuer, Asset manager[1]United States
- HashnoteIssuer[1]United States
- BinancePlatform provider, Operator[1]Global
- CeffuCustodian[1]United Arab Emirates
- Anchorage DigitalCustodian[2]United States
- Supporting banks in Binance's tri-party arrangement are not named.[1]
Assets
- Takes as collateralUSYC (Hashnote International Short Duration Fund) (USYC)[1]
Timeline
- Happened 30 Jun 2026 · Participant joined · recorded 12 Oct 2026Binance adds Anchorage Digital as a triparty custody partner through Anchorage's Atlas off-exchange settlement platform, naming USYC among eligible tokenised collateral.[2]
- Happened 24 Jul 2025 · Launch · recorded 11 Oct 2026USYC accepted as off-exchange collateral for Binance institutional clients and issued natively on BNB Chain.[1]
Sources
- [1]Circle's USYC Now Supported as Yield-Bearing Off-Exchange Collateral for Binance's Institutional Clients — Circle, 24 Jul 2025. Accessed 11 Oct 2026.B
- [2]Binance Expands Triparty Banking Network with Anchorage Digital's Atlas Integration — Binance (via PR Newswire / AAP), 30 Jun 2026. Accessed 12 Oct 2026. Names BUIDL, USYC and iBENJI among eligible tokenised collateral, subject to eligibility and availability..B
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