🔴 Circle's $USYC just crossed $3 billion in AUM. But almost all of its growth comes from a single source: Binance. USYC is a tokenized money market fund backed by short-term U.S. Treasuries. After Circle acquired Hashnote in January 2025, USYC's supply fell from $1.7 B to $200 M in 7 months. Then Binance stepped in. In August 2025, USYC was deployed natively on BNB Chain as off-exchange collateral for Binance's institutional clients. Over $320 M was minted in a single day on its launch. Since then, the supply has only grown on BNB Chain. Binance holds 100% of USYC deployed on BNB chain, representing over 96% of the total supply. This is a partnership that works for both entities. Binance gets a RWA product to showcase on BNB Chain. Circle gets a product that was dying and is now crossing $3 billion. Without Binance, $USYC would have remained a marginal product for Circle, but instead it has become the largest tokenized money market fund in the world, surpassing Blackrock's $BUIDL, Ondo's $USDY, and Franklin Templeton's $BENJI.