Circle is integrating its stablecoin USDC with Hashnote’s Tokenized Money Market Fund, which currently has a total value locked of 900 million USD, down from 1.9 billion USD earlier.

The fund will be regulated under Bermuda’s Digital Assets Business Act, marking Circle as the first crypto firm licensed there. Tokenized RWAs are seen as a significant growth opportunity in the market, estimated at 30 trillion USD.