Binance Integrates $686 Million USYC for Institutional Derivatives

- Binance and Circle to integrate $686 million yield-bearing USYC. - USYC to serve as off-exchange derivatives collateral and be issued on BNB Chain. On July 24, 2025, The Block reported that Binance and Circle have partnered to integrate Circle's yield-bearing crypto asset, USYC, into the Binance platform. Primarily backed by $686 million in U.S. government securities, USYC will be used by Binance’s institutional clients as off-exchange collateral for derivatives trading. In addition, Circle confirmed it will natively issue USYC on the BNB Chain, Binance's blockchain platform. The collaboration aims to increase capital efficiency and offer enhanced functionality for institutional clients. By using USYC as collateral, institutional traders can earn yield on their reserves while participating in derivatives markets. Binance stated that either Binance Banking Triparty or its institutional custody partner, Ceffu, will secure custody for USYC. The market for tokenized real-world assets has seen notable growth in 2025, with demand for tokenized U.S. Treasuries nearly doubling since the beginning of the year. Circle also highlighted USYC’s near-instant fungibility with its stablecoin, USDC, a feature that allows users to efficiently bridge between tokenized cash and Treasuries. In a statement on July 24, Catherine Chen, Head of Binance VIP & Institutional, said, “The integration of USYC into Binance’s trading environment represents a major step forward in our support for the future of capital markets.” Similarly, Kash Razzaghi, Chief Business Officer at Circle, remarked in a statement, “USYC’s integration with Binance unlocks new possibilities for institutional capital efficiency.” As of 18:15 UTC on July 24, Binance's native token, BNB, traded at $785.11, marking a 1.8% increase in its 24-hour trading volume. Meanwhile, Circle’s stablecoin, USDC, traded at $1.00, showing only a minimal 0.01% change during the same period. This market data indicates steady performance for both assets, highlighting their importance in the growing digital finance ecosystem.