Circle overtakes BlackRock in tokenized Treasuries as market hits record $11 billion
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Circle's USYC token has surpassed BlackRock's BUIDL fund, becoming the largest tokenized U.S. Treasury product with a supply of approximately $2.2 billion. This growth is largely attributed to its integration on BNB Chain, where Binance has introduced it as off-exchange collateral for institutional derivatives trading. The overall market for tokenized U.S. Treasuries has reached a record $11 billion, reflecting a 27% increase this year, driven by investor demand for yield amid the crypto downturn.
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