About a-team Marketing Services

A-Team Insight Briefs

Hashnote’s US Yield Coin (USYC) Now Available on Canton Network, Offering Privacy-Enhanced, Tokenised Yield Solutions

Subscribe to our newsletter

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.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Preparing For Primetime – How to Benefit from the Global LEI

This webinar has passed, but you can view the recording here. Much has been made of the initiative to create a global standard legal entity identifier (LEI). Its backers have taken great pains to explain how the new identifier will improve transparency and contribute to the ongoing regulatory war against systemic risk. After months of...

BLOG

ASIC Takes Legal Action Against ASX Over Allegedly Misleading Statements on CHESS Replacement Project

The Australian Securities and Investments Commission (ASIC) has initiated legal proceedings in the Federal Court against ASX Limited, the country’s largest market operator, accusing the company of making misleading statements regarding its Clearing House Electronic Subregister System (CHESS) replacement project. ASIC contends that ASX misrepresented the status of the project in announcements made on 10...

EVENT

Data Management Summit London

Now in its 15th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Institutional Digital Assets Handbook 2024

Despite the setback of the FTX collapse, institutional interest in digital assets has grown markedly in the past 12 months, with firms of all sizes now acknowledging participation in some form. While as recently as a year ago, institutional trading firms were taking a cautious stance toward their use, the acceptance of tokenisation, stablecoins, and...