Remarkably, USYC, Circle’s tokenized money market fund (TMMF), has seen its assets under management (AUM) jump from $150 million to $2.68 billion in just five months. Currently the largest fund of its kind, USYC also recorded an estimated 3.18% increase in net yield.
For context, USYC was built by Circle for institutions to earn yield while making their funds easily accessible on-chain.
When did things turn around for Circle’s USYC?
Having said that, $BNB The chain plays a key role here as around 95% of AUM is on this blockchain network. If you look closely, November 2025 was the driving force behind this growth.
Here’s what Dune has to say:
This created a flywheel of demand that other tokenized T-bills rival.
According to Circle’s 2025 Annual Report, USYC’s assets under management (AUM) increased approximately $592 million from November 1, 2025 to December 23, 2025. In less than two months, the fund grew from $948 million to $1.54 billion, making it the world’s second-largest tokenized money market fund (TMMF).
Therefore, the extension to $BNB The addition of USYC’s chain to Solana (SOL) has stepped up USYC’s game.
How did Binance Chain act as a catalyst?
Meanwhile, Binance’s stablecoin reserves increased to $45.5 billion as inflows surged by $2.5 billion in March.
This is a major trend reversal as Binance’s stablecoin reserves went from outflows to inflows worth $7.6 billion in three months.
Additionally, it looks like April will also be recording inflows as it has already recorded net inflows of over $1 billion, according to the latest updates.
Circle’s $USDC vs. Tethers $USDT
This is provided by Circle $USDC surpass tether $USDT Additionally, Circle’s stock price rose 2.09% to trade at $92.15.
All of this comes on the heels of a recent update in which Circle plans to move early to post-quantum cryptography (PQC), reflecting how security priorities are changing across the market.
Final summary
- Circle’s USYC was the second-largest TMMF with $2.68 billion in assets under management.
- Binance is acting as a catalyst, with its stablecoin reserves surging to $45.5 billion also acting as a positive playlist in the background.
