Circle’s USYC has become the largest tokenized Treasury bill fund with a $2.9 billion market cap on BNB Chain, according to data from Token Terminal. The fund’s size significantly outpaces competitors in the growing category of on-chain T-Bill products.
There are currently 23 T-Bill fund deployments with market capitalizations exceeding $100 million, indicating substantial institutional and retail interest in tokenized fixed-income products on blockchain networks. USYC’s dominance reflects Circle’s position as a leading issuer of tokenized Treasury exposure in the DeFi ecosystem.
Sources: Token Terminal
This article was produced with the help of AI flows.