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Circle acquires Hashnote, a $1.3B tokenized RWA firm, to integrate USYC with USDC

PRIVATEJan 21, 2025

Acquiring Company

Circle

Acquired Company

Hashnote

BostonMiamiOtherFinancial ServicesSoftwareFinanceFintechFinancial ServicesFintech

Description

Circle, the issuer of the $48 billion USDC stablecoin, has completed the acquisition of Hashnote, a leading tokenized real-world asset (RWA) issuer. This acquisition aims to integrate USYC with USDC, enabling convertibility between cash and yield-bearing collateral on blockchains, reinforcing Circle's position in the market.

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Company Information

Company

Circle

Location

99 High Street Suite 1801

Boston, Massachusetts, United States

About

Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the issuer of USD Coin (USDC), one of the fastest growing dollar digital currencies powering always-on internet-native commerce and payments. Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through the frictionless exchange of financial value. Additionally, Circle operates SeedInvest, a leading startup fundraising platform in the U.S. Learn more at https://circle.com. A full description of the terms of the proposed transactions (collectively, the "Transactions") between Circle Internet Financial Limited ("Circle") and Concord Acquisition Corp ("Concord"), will be provided in an amendment to the registration statement on Form S-4 to be filed with the SEC by Circle Internet Finance plc (the "Company") that will include a proxy statement for the stockholders of Concord that will also constitute a prospectus of the Company. Concord, Circle and the Company urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus as well as other documents filed with the SEC because these documents will contain important information about Concord, Circle and the Transactions. After the registration statement is declared effective, the definitive proxy statement/prospectus to be included in the registration statement will be mailed to stockholders of Concord as of a record date to be established for voting on the Transactions. Stockholders will also be able to obtain a copy of the proxy statement/prospectus, without charge, by directing a request to: Concord Acquisition Corp, 477 Madison Avenue, 22nd Floor, New York, NY 10022. The preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, can also be obtained, without charge, at the SEC's website (www.sec.gov).

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Frequently asked

Who acquired Hashnote?

Hashnote was acquired by Circle, based in Boston. The deal was reported on January 21, 2025. Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is privately held and operates in Other.

When did Circle acquire Hashnote?

Circle's acquisition of Hashnote was reported on January 21, 2025. Circle, the issuer of the $48 billion USDC stablecoin, has completed the acquisition of Hashnote, a leading tokenized real-world asset (RWA) issuer. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Hashnote do?

Hashnote, the issuer of USYC incubated by Cumberland Labs, is recognized as the largest tokenized treasury and money market fund in the world with $1.52B deployed into USYC as of January 15, 2025. It is privately held, operating in Financial Services, and is based in Miami.

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