Hashnote, the on-chain digital asset manager backed by DRW and Cumberland, has made its yield-bearing US Yield Coin (USYC) accessible on the Canton Network, a blockchain platform developed by Digital Asset with contributions from over 30 financial industry leaders. The Canton Network’s privacy features allow USYC holders to manage collateral without third-party visibility, enhancing security and discretion.
USYC is a tokenised asset that invests in reverse repo activities on government-backed bonds, providing short-term, risk-free returns. The asset currently has $300 million in assets under management (AUM). Through Canton’s Global Synchroniser, USYC holders benefit from privacy-protected, atomic transactions across applications on the network. Additionally, Hashnote is one of the first apps approved to mint Canton Coin, the network’s native utility token, allowing USYC holders to earn rewards through their interactions on the platform.
Leo Mizuhara, Founder and CEO of Hashnote, commented: “What particularly stands out for us, and for many of our clients, is the privacy of your assets and transactions when using Canton, which can be crucial for trading use cases. The setup allows us to reduce counterparty and settlement risks and optimise capital efficiency without sacrificing privacy. Furthermore, USYC is fully composable on the Canton Network, so participants can create additional utility around USYC by including it in their trading, cash, and risk management workflows.”
Eric Saraniecki, Co-Founder and Head of Network Strategy at Digital Asset, added: “Access to tokenised real-world assets on-chain has been steadily on the rise and we are now seeing demand from institutional investors who want to utilise these assets across daily margin, cash and risk management activities. Privacy is required to make this a reality, unlocking cash equivalents for use as collateral 24/7, in real-time, and connecting Hashnote’s customers to the largest and most diverse network for tokenised real-world financial assets.”
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