Circle will issue the interest-bearing stablecoin USYC on the BNB Chain platform to enhance capital efficiency and liquidity.
Stablecoin USYC, based on US Treasury bonds, is about to be natively issued on BNB Chain, helping global users to leverage profits and improve transaction speed.
MAIN CONTENT
USYC is a new generation interest-bearing stablecoin, based on US Treasury assets.
Issuance on BNB Chain helps increase liquidity and improve capital efficiency.
Transactions and the use of USYC will take place across the entire BNB Chain ecosystem.
What does the issuance of USYC on BNB Chain mean?
Circle will directly issue the interest-bearing USYC stablecoin on BNB Chain, expanding the multi-chain cryptocurrency ecosystem. This was announced by Circle CEO Jeremy Allaire in July 2024, aiming to enhance the user experience for the global market.
Native issuance allows USYC to leverage fast transaction processing while enhancing decentralization and security on the BNB Chain Blockchain. Additionally, users can benefit from yields based on US Treasury bonds, which are a safe and financially efficient savings channel.
This marks an important development in interest-bearing stablecoins as it integrates closely with the leading Blockchain, opening up opportunities for more efficient capital use for individual and institutional investors.
How does USYC operate on BNB Chain?
USYC is a stablecoin supported by real assets, specifically US Treasury bonds, thus providing safety and stability in value. On BNB Chain, users can send, receive, trade, and stake USYC to earn interest, creating a stream of income while maintaining liquidity.
BNB Chain with an efficient consensus mechanism increases transaction processing speed and minimizes gas fees for users. This combination enhances usability, motivating users to switch to using interest-bearing stablecoins in the cryptocurrency ecosystem.
The native issuance of USYC on BNB Chain enhances capital efficiency and promotes the adoption of interest-bearing stablecoins in the global market.
Jeremy Allaire – CEO of Circle, July 2024
What are the practical benefits of using the USYC stablecoin on BNB Chain?
USYC offers a combination of value stability and profit generation, distinguishing itself from traditional non-interest-bearing stablecoins. This is a significant advantage for investors seeking a safe source of passive income in the cryptocurrency market.
Moreover, the issuance and operation on BNB Chain increases liquidity and transaction speed, suitable for both daily trading and long-term investment needs. Thus, users can flexibly manage assets, enhancing the experience of using stablecoins more effectively.
Comparison table of some popular stablecoins in the market
Highlights USYC (On BNB Chain) Traditional Stablecoins (USDT, USDC) Collateral Type US Treasury bonds Multiple assets or fiat No Interest Income Fixed interest, stable income No interest Income Blockchain issuance BNB Chain native Diverse (Ethereum, Tron, Binance,…) Transaction fees Low thanks to optimized BNB Chain Variable fees, often high on Ethereum
Frequently Asked Questions
What is USYC and what makes it special?
USYC is an interest-bearing stablecoin backed by US Treasury bonds, natively issued on BNB Chain, allowing users to maintain value while receiving safe profits.
What benefits does native issuance on BNB Chain bring?
Facilitates fast transactions, low fees, and better liquidity while leveraging the modern Blockchain technology of BNB Chain.
Is USYC safe?
With US Treasury bonds as collateral and a reputable Blockchain platform, USYC is highly regarded for its safety and transparency.
How can users utilize USYC?
USYC is used for trading, sending, receiving, staking or using in DApps within the BNB Chain ecosystem to generate passive profits.
Who is USYC suitable for?
This is the ideal choice for cryptocurrency investors seeking stability, high liquidity, and income from stablecoins.
Source: https://tintucbitcoin.com/usyc-circle-se-ra-mat-tren-bnb/
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