Circle’s USYC Overtakes BlackRock’s BUIDL as Largest Tokenized Treasury Fund

Circle’s USYC has overtaken BlackRock’s BUIDL arsenic the world’s largest tokenized wealth marketplace fund, a benignant of concern merchandise that holds U.S. Treasury securities and trades connected blockchain networks.

USYC reached $1.69 cardinal successful assets portion BUIDL fell to $1.68 billion. USYC grew 11% successful 30 days portion BUIDL declined 2.85%, according to RWA.xyz data.

The astir $6 cardinal borderline betwixt the 2 comes with a important caveat arsenic Arkham Intelligence information shows Binance holds $1.43 cardinal of USYC, representing 94% of the full supply.

Previous on-chain records showed Usual Protocol held a akin stock earlier diversifying its reserves successful precocious 2024. Nearly each of USYC’s maturation came from a azygous organization narration with Binance.

Circle announced its concern with Binance successful July 2025, allowing organization clients to usage USYC arsenic backing for trades connected the exchange.

The money was issued connected Binance’s blockchain network, with astir $1.4 cardinal present deployed there.

Kash Razzaghi, Circle’s Chief Business Officer, said astatine the clip that the integration unlocks caller possibilities for organization superior efficiency.

Catherine Chen, Head of Binance VIP & Institutional, said the integration represents a large measurement guardant successful enactment for the aboriginal of superior markets.

The concern followed Circle’s acquisition of Hashnote, the archetypal USYC issuer, successful January 2025.

BlackRock’s BUIDL money maintains a much diversified holder basal with 103 chiseled holders. BUIDL’s organisation is much granular, though its apical 10 holders inactive relationship for implicit 95% of full value.

The wide tokenized treasury marketplace reached $10.07 billion, with USYC and BUIDL combined representing astir one-third of that value.

Both funds put successful short-duration U.S. Treasury securities and service organization investors seeking interest-earning integer assets.

The bladed borderline betwixt the 2 funds means rankings could displacement with mean money activity. Stablecoin transaction volumes accrued to scope $33 trillion successful 2025, which whitethorn proceed driving organization involvement successful related products.

Read archetypal communicative Circle's USYC Overtakes BlackRock's BUIDL arsenic Largest Tokenized Treasury Fund by Zoran Spirkovski astatine Coinspeaker.com