Provider at a glance
- Category
- Money-Market Funds
- Entity
- All 6 Circle products
- Official website
- circle.com
Independent rankingchecked How it works
Details
Scored 48 out of 100 under methodology 2026.10.18, from the evidence read in September 2026.
Circle USYC (Hashnote International Short Duration Yield Fund Ltd)
Tokenised yield fund from Circle
Money-Market Funds
#7 Overall
Ranked #7 of 8 money-market funds in the published ranking
48
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- High evidence confidence
Is Circle USYC (Hashnote International Short Duration Yield Fund Ltd) right for you?
Look elsewhere if these come first
- Token as the share of record3/10 here; Invesco Short Duration US Government Securities Fund (USTB) scores 7
- Regulator and registration number2/10 here; WisdomTree Treasury Money Market Digital Fund (WTGXX) scores 10
- Published fee against fund yield3/10 here; WisdomTree Treasury Money Market Digital Fund (WTGXX) scores 8
- Portfolio and liquidity rules3/10 here; WisdomTree Treasury Money Market Digital Fund (WTGXX) scores 9
Not yet tested for your country. Markets it lists: Europe, Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best money-market fund shows where it lands for you.
What will Circle USYC (Hashnote International Short Duration Yield Fund Ltd) cost you?
Not priced on this basis
- Your balance
- $10k
How safe is Circle USYC (Hashnote International Short Duration Yield Fund Ltd)?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read September 2026.
- LicenceMiCA (EU): no register record on file here.
- On the registersMiCA: authorised, CIRCLE INTERNET FINANCIAL EUROPE SAS (FR, since 2026-04-23). Read 3 November 2026. Open the register
Alternatives to Circle USYC (Hashnote International Short Duration Yield Fund Ltd)
Compare all 4- 5WisdomTree Treasury Money Market Digital Fund (WTGXX)8 points above · stronger on regulator registration (10 against 2)56
- 6BlackRock USD Institutional Digital Liquidity Fund (BUIDL)8 points above · stronger on token share record (6 against 3)56
- 8Invesco Short Duration US Government Securities Fund (USTB)3 points below · stronger on token share record (7 against 3)45
For your setup
Find out if Circle USYC (Hashnote International Short Duration Yield Fund Ltd) fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Circle USYC (Hashnote International Short Duration Yield Fund Ltd) lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
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Find my best money-market fundNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Circle USYC (Hashnote International Short Duration Yield Fund Ltd) ranks #7
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (8.7 here) sit inside the score; availability, friction, trust record and measured data add the rest.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
303+2.886.09#6/8Loading evidence…
282+1.796.510#7/8Loading evidence…
223+2.118.09#7/8Loading evidence…
203+1.926.09#7/8Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−8behind BlackRock USD Institutional Digital Liquidity Fund (BUIDL), #6
RobustnessHoldsacross a one-point change to each of its 4 criterion scores, the re-run scores 46–50 and stays #7
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Circle USYC (Hashnote International Short Duration Yield Fund Ltd)’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
Token as the share of record 3 → 7 on its ladder · passes BlackRock USD Institutional Digital Liquidity Fund (BUIDL)+456#7 → #6
Regulator and registration number 2 → 7 on its ladder · passes BlackRock USD Institutional Digital Liquidity Fund (BUIDL)+557#7 → #5
Published fee against fund yield 3 → 9 on its ladder · passes BlackRock USD Institutional Digital Liquidity Fund (BUIDL)+657#7 → #5
Portfolio and liquidity rules 3 → 9 on its ladder · passes BlackRock USD Institutional Digital Liquidity Fund (BUIDL)+656#7 → #6
Token as the share of record 3 → 1 on its ladder · Invesco Short Duration US Government Securities Fund (USTB) passes it−245#7 → #8
Regulator and registration number 2 → 0 on its ladder · Invesco Short Duration US Government Securities Fund (USTB) passes it−245#7 → #8
Published fee against fund yield 3 → 0 on its ladder · Invesco Short Duration US Government Securities Fund (USTB) passes it−344#7 → #8
Smallest climb: token as the share of record 3 → 7 passes BlackRock USD Institutional Digital Liquidity Fund (BUIDL), #6.
Strengths
0 from the score dataWhere it leads
No scored criterion is at or within one point of the category best, so no strength can be stated from the data.
Tradeoffs
4 from the score dataWhere it trails
Not for readers who put first
- Token as the share of record — 3/10 against a category best of 9/10
- Regulator and registration number — 2/10 against a category best of 10/10
- Published fee against fund yield — 3/10 against a category best of 9/10
- Portfolio and liquidity rules — 3/10 against a category best of 9/10
Record watch-outs
- The Entitlements contract can freeze the entire token: "The Entitlements contract can also freeze all transactions involving USYC. As every type of action involving USYC verifies the Role of the sender, the Allowlist is positioned to revert all transactions." That passage is on the product-structuring page. The price that sets redemption value is also a single publisher's push — 0x74f2199AEb743f68f05943e5715A33EaF2b61f53 returned latestRoundData() with roundId 486, answer 1133362906634636304 against decimals() = 18 (so 1.133362906634636304) and startedAt equal to updatedAt at 2026-08-07T12:30:47Z, and its owner() is 0x1de107dc268f4be3ee688cf24c7742f6ebb19e98, which eth_getCode shows is an externally owned account with no code.
Competitive position
Where Circle USYC (Hashnote International Short Duration Yield Fund Ltd) leads and where it trails
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Availability#1 / 814.0 of 20 · pool best
Published criteria#8 / 86.5 of 30 · best 22.3
Friction#1 / 82.7 of 10 · constant here
Trust record#1 / 83.2 of 8 · constant here
Measured data#1 / 88.3 of 18 · constant here
Where Circle USYC (Hashnote International Short Duration Yield Fund Ltd) leadsNo criterion in the top third of its pool.
Where it trails
- Token as the share of record#6 / 8
- Regulator and registration number#7 / 8
- Published fee against fund yield#7 / 8
- Portfolio and liquidity rules#7 / 8
Closest alternatives
The 3 nearest rows by score
Nearest by published score in either direction. Each card states the criteria on which the two rows differ and the cost difference under the same scenario inputs; the compare arithmetic below shows why the higher one ranks higher.
Invesco Short Duration US Government Securities Fund (USTB)#8 of 8 · score 45 · 3.0 points behind
Circle USYC (Hashnote International Short Duration Yield Fund Ltd) leads onNo scored criterion
Invesco Short Duration US Government Securities Fund (USTB) leads on
- Token as the share of record7 vs 3
- Regulator and registration number3 vs 2
- Published fee against fund yield8 vs 3
Largest single reason Circle USYC (Hashnote International Short Duration Yield Fund Ltd) is ahead: availability (+20.8 display points).Scenario cost: Invesco Short Duration US Government Securities Fund (USTB) has no verified pricing for this scenario.
BlackRock USD Institutional Digital Liquidity Fund (BUIDL)#6 of 8 · score 56 · 8.0 points ahead
Circle USYC (Hashnote International Short Duration Yield Fund Ltd) leads onNo scored criterion
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) leads on
- Token as the share of record6 vs 3
- Regulator and registration number3 vs 2
Largest single reason BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is ahead: published criteria (+7.5 display points).Scenario cost: BlackRock USD Institutional Digital Liquidity Fund (BUIDL) has no verified pricing for this scenario.
WisdomTree Treasury Money Market Digital Fund (WTGXX)#5 of 8 · score 56 · 8.0 points ahead
Circle USYC (Hashnote International Short Duration Yield Fund Ltd) leads onNo scored criterion
WisdomTree Treasury Money Market Digital Fund (WTGXX) leads on
- Regulator and registration number10 vs 2
- Published fee against fund yield8 vs 3
- Portfolio and liquidity rules9 vs 3
Largest single reason WisdomTree Treasury Money Market Digital Fund (WTGXX) is ahead: published criteria (+28.3 display points).Scenario cost: WisdomTree Treasury Money Market Digital Fund (WTGXX) has no verified pricing for this scenario.
Against the leader
81 vs 48 · gap 33.0Why Spiko US T-Bills Money Market Fund (USTBL) ranks above Circle USYC (Hashnote International Short Duration Yield Fund Ltd)
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 33.0 to within rounding.
DimensionThisSpiko US T-Bills Money Market Fund (USTBL)Gap share
Availability · 23% weight14.014.0same
Published criteria · 35% weight6.519.1−32.8, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight · constant here8.38.3same
Published criterionThisSpiko US T-Bills Money Market Fund (USTBL)Points
Token as the share of record · w3036−2.88, worse
Regulator and registration number · w28210−7.17, worse
Published fee against fund yield · w2238−3.52, worse
Portfolio and liquidity rules · w2038−3.20, worse
Net4881−33.0
Your scenario
Circle USYC (Hashnote International Short Duration Yield Fund Ltd) is not priced for this scenario
The annual management fee on your balance. Excludes performance fees, spreads and any redemption charge. Change an input and every figure recomputes from the published rate; the published rank does not move.
your cost/yr · default scenario — set your own
Your balance · your input$10k
Rate read from the provider’s published pricing ↗ on 27 September 2026.
your cost/yrCost is stated as your cost/yr in USD; it is never a yield, never annualised, and it does not enter the score.
Not priced on this basis
Under the default inputs · USDCategory medianNot priced0 of 8 rows priced
Cheapest pricedNone pricedDifference not stated · availability not applied — set your country to filter
8 of 8 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
Evidence read 27 September 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessHoldsrank #7 across every one-point re-run
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 3 November 2026; this category's reading is older. The scores stand as read on 27 September 2026.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
Token as the share of recordstrength 3 · weight 30Report an error—27 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Regulator and registration numberstrength 2 · weight 28Report an error—27 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Published fee against fund yieldstrength 3 · weight 22Report an error—27 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Portfolio and liquidity rulesstrength 3 · weight 20Report an error—27 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.How you can lose money here, and what the ranking scores
- Insolvency failure: the firm or issuer that owes you cannot pay.Scored by Token as the share of record · 30% (Circle USYC (Hashnote International Short Duration Yield Fund Ltd) 3/10)Scored by Portfolio and liquidity rules · 20% (Circle USYC (Hashnote International Short Duration Yield Fund Ltd) 3/10)
- Regulatory failure (Circle USYC (Hashnote International Short Duration Yield Fund Ltd) 2/10): no licence where you are, or a forced market exit.Scored by Regulator and registration number · 28%
Not assessed by this ranking: Contract failure, Control failure, Custody failure, Exit failure, Information failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: Published fee against fund yield (22%).
Facts
facts, not scoresWhat the record publishes
- Pricing
- "Subscription fee 0.04%", "Redemption fee 0.03%", "Performance Fee 10% of Yield", "Investment Minimum $100,000", the two transaction fees each qualified "0% on combined daily volume ≤ $1M; standard fees apply to volume exceeding the subscription threshold" (for redemptions, "the redemption threshold") — Circle's own USYC product page, fetched 27 September 2026. No management fee is listed on that page or on the documentation Fees page (usyc.docs.hashnote.com/overview/fees). The page's "Estimated Gross Yield" and "Estimated net Yield" render only from JavaScript and carry no figure in the served HTML.Circle USYC (Hashnote International Short Duration Yield Fund Ltd) — official pricing page ↗ · 27 September 2026
- Prices published in
- USDCircle USYC (Hashnote International Short Duration Yield Fund Ltd) — official pricing page ↗ · 27 September 2026
- Licences held
- Not published
- Compliance level
- partial
- Regulatory note
- Two regulators are named but no number for either: "USYC is issued by Circle International Bermuda Limited, regulated by Bermuda Monetary Authority (BMA), and represents an interest in a Cayman Islands mutual fund licensed by Cayman Islands Monetary Authority (CIMA)." A CIMA mutual-fund licence is not a money-market-fund registration, and the documentation publishes no CIMA registration number.
- Supported chains
- Ethereum, BNB Chain, Solana, Canton, NEAR
- Markets served
- europe, global
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- Not published
Legal entity on file: Circle, placed in 6 products. Only confirmed entities are shown; nothing is inferred from the brand name.
If something goes wrong with Circle USYC (Hashnote International Short Duration Yield Fund Ltd): where to complain, and where to report a scam
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How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
10 methodology entries
- 27 September 2026Current verified snapshot · methodology 2026.10.18Score 48, #7 of 8. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
- 16 September 2026
2026.09.15Dimension scores carry tenths, and eleven more categories are re-read from primary sources · platform-wide- changed Dimension scores resolve to tenths of a point (O-04b), and weightedTotal is rounded to six decimal places before the order is read. 518 published scores move across 107 categories that were not re-read; none of them moves by more than 4 points, and most move by 1.
- fixed 66 published scores change in the eleven re-read categories, against a verbatim source each. The largest moves are Reflexer RAI (−16), Beefy and Unrekt (−11), Aztec (−10) and Golem (+9) — all of them rows whose sources had moved since their last read.
- changed Published order moves in 38 of 119 categories and three #1s change: smart_contract_audits (Zellic → Certora) and travel_rule_compliance (Sumsub Travel Rule → CodeVASP) on the finer resolution, kyc_compliance (Veriff → Sumsub) on the re-read.
- added availabilitySource (O-04g): for a reader who states a country, a row whose availability in that country rests on a region tag its record gives no source for sorts below every sourced row. It is inert in every order published here, which states no country.
Methodology 2026.10.18, the same published run every visitor sees · receipt money_market_funds:circle_usyc-money_market_funds:2026.10.18:e3f56b1d1fc8
Are you Circle USYC (Hashnote International Short Duration Yield Fund Ltd)? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.