USYC

USYC is issued by Circle International Bermuda Limited, token administrator for Hashnote International Short Duration Yield Fund Ltd. (Cayman Islands (fund); Bermuda (token administrator)).

Each token is a digital representation of a share of Hashnote International Short Duration Yield Fund Ltd. Circle's developer overview says the fund invests primarily in reverse repurchase agreements backed by U.S. government securities. Yield accrues through a rising token price.

No custodian is named on the issuer pages cited for USYC.

Fees: Subscription fee 0.04% and redemption fee 0.03%, each waived on combined daily volume of $1 million or less. Performance fee 10% of yield. After-hours subscription pricing varies. Circle's page says all transactions are in USDC. Redemption: Eligible investors subscribe and redeem in USDC. Below the instant-redemption capacity, redemptions settle in one block. Above that capacity they settle T+0 or T+1. The developer overview describes atomic T+0 settlement in USDC. Minimum: Investment minimum $100,000.

The cited pages name Arc, BNB, Canton, Ethereum, NEAR, Solana.

The structure fields were read from the issuer sources on 31 Oct 2026. A later market-cap figure, when one exists, comes from the nightly CoinGecko job and is separate from that date.

A non-U.S. person requests access on https://www.circle.com/usyc. The page separates that request from an already approved investor, who can then access USYC. Subscriptions and redemptions use USDC. The page does not name a secondary-market exchange. The page is written for an investor who still needs approval and for one who is already approved. It does not print the document checklist. The developer overview says eligibility restrictions apply and points to Circle's investor onboarding help or customer-support@circle.com.

USYC is issued from Cayman Islands (fund); Bermuda (token administrator). Regulator, as published: Bermuda Monetary Authority licenses the token administrator. The fund is a Cayman Islands registered mutual fund. Circle's developer overview says that fund is licensed by the Cayman Islands Monetary Authority (CIMA). Shares and USYC are offered only to non-U.S. persons under the Securities Act of 1933. The USYC page says shares of the fund and USYC are available only to non-U.S. persons under the Securities Act of 1933. For an individual, the page treats a U.S. citizen, a U.S. resident, or a person who meets the IRS substantial presence test as a U.S. person. For an institution it points to Regulation S, 17 CFR § 230.902(k). It says additional eligibility restrictions may apply and does not list them. Those details go to customer-support@circle.com.

The issuer does not publish a redemption minimum for USYC. Redemptions are paid in USDC. The page says all transactions are in USDC. It does not name a bank or a city. The USYC page lists a subscription fee of 0.04% and a redemption fee of 0.03%, each at 0% on combined daily volume of $1 million or less, with the standard rate above that threshold. The performance fee is 10% of yield. After-hours subscription pricing varies and is described as based on a projected next price. The page says unlimited instant redemptions carry a fee and does not print the rate. A redemption below the instant-redemption capacity settles in one block, and the block time depends on the chain. Above that capacity, settlement is T+0 or T+1. The page does not print the capacity. A footnote says unlimited instant redemptions are available for a fee and does not print that fee. The issuer does not publish a storage fee for USYC. Direct purchase minimum: The USYC page lists an investment minimum of $100,000. Reserve report: Circle's developer overview says the token price and fund holdings are published through an on-chain oracle. Neither that overview nor the USYC page names an auditor or an assurance standard for a reserve report.