Circle's USYC supply hits $2.2B, topping BlackRock's BUIDL

Circle's USYC token has become the largest in the tokenized U.S. Treasury market, with its supply reaching approximately $2.2 billion and surpassing BlackRock's BUIDL fund. According to CoinDesk, BUIDL currently holds around $2 billion in assets. Amid intensifying competition from new entrants, BUIDL's market share has fallen to 18% from a peak of 46% in May. The outlet noted that USYC's recent expansion appears to be linked to activity on the BNB Chain, as Binance recently added the token as over-the-counter collateral for institutional derivatives trading.