Circle, the issuer of the USDC stablecoin, has officially launched its tokenized Treasury fund, USYC, on the Solana network. This strategic move, announced by the company, introduces a $635 million investment vehicle to one of the fastest-growing blockchain ecosystems, blending the security of traditional assets with the efficiency of decentralized finance.
The new tokenized fund on Solana allows investors to access a digital version of shares in a U.S. money market fund. This fund primarily invests in cash and short-term Treasury bills, offering stable yield. The choice of Solana is no coincidence, as its network is capable of processing up to 65,000 transfers per second with considerably low fees, an ideal profile for high-frequency trading and international remittances. This launch builds on the previous success of USDC on the same network, where it already dominates 77% of the stablecoin market, with issuance exceeding $10 billion and an annual growth of 112%.
What does the arrival of USYC mean for the ecosystem?
The integration of USYC significantly expands the possibilities within Solana’s DeFi ecosystem. The token can be deposited into lending protocols to generate additional returns, used as margin on decentralized exchanges, or integrated into automated vaults. It serves as high-quality collateral, enabling users to participate in complex financial strategies that require stable assets accepted by smart contracts. This development coincides with a boom in tokenized real-world assets (RWAs), a market that reached $24 billion in June 2025. Major asset managers like BlackRock and Fidelity have already entered this space, validating its potential.
A bridge between the Treasury and high network speed
For institutional treasuries and investors, the arrival of the tokenized fund on Solana represents a unique opportunity. They gain access to a Treasury asset that is natively compatible with decentralized finance. However, significant challenges remain, such as operational risks associated with Solana’s previous network outages and growing regulatory pressure.
The upcoming Alpenglow update, which has demonstrated a capacity of over one million transfers per second in testing, will be crucial in determining the long-term robustness of the ecosystem.
The introduction of USYC on Solana reinforces the convergence between traditional finance and the decentralized world. The success of its adoption will depend on the balance between offering attractive yield with low costs, the network’s operational stability, and the ability to navigate the compliance requirements that come with the entry of institutional players into the market.
