Profile
USYC profile facts
Circle USYC (USYC) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar-denominated NAV.
- Collateral
- Short-term U.S. Treasury bills and reverse repo agreements held for Circle USYC / Hashnote fund shares in segregated brokerage and custody accounts.
- Peg mechanism
- Subscription and redemption via USDC at NAV-based token price; redemptions below instant redemption capacity settle in one block, while larger redemptions settle T+0 or T+1
- Jurisdiction
- Bermuda / BMA / DABA License
- Proof of reserves
- Independent Audit by Cohen and Company Reserve source
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
USYC quick answers
5
What is Circle USYC (USYC)?
Circle USYC is Circle's tokenized T-bill fund share backed by short-term U.S. Treasuries and reverse repos, redeemable at NAV. The static profile records its US Dollar-denominated NAV accounting mechanism as: Subscription and redemption via USDC at NAV-based token price; redemptions below instant redemption capacity settle in one block, while larger redemptions settle T+0 or T+1.
Is USYC safe?
As of Oct 24, 2026, Pharos grades USYC C (57/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to customers the issuer has verified. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs USYC?
Pharos records USYC's reserves as of Jul 14, 2026 as 100% U.S. Treasury Bills and reverse repos. Reserve evidence: Independent Audit by Cohen and Company. Pharos classifies the backing as Real-World Asset Backed.
Can USYC be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem USYC?
Under the route Pharos reviewed on Oct 7, 2026, customers the issuer has verified can redeem USYC for USDC. Settlement is same-day. The reviewed redemption fee is at most 0.03%. Whether a given holder qualifies is set by the route's own terms, not by this summary.
