According to CoinMeta, Circle announced that it would shift the funds behind its USYC tokenized money market product from major overnight reverse repurchase agreements to long-term U.S. Treasury bonds, while keeping its token and redemption arrangements unchanged. The company stated that USYC will continue to use USDC for subscriptions and redemptions, but did not provide the weighted average maturity of the funds, the current yield, or the proportion of assets transferred to Treasury bonds. USYC represents shares of Hashnote International Short Duration Fund Ltd; this fund is registered in the Cayman Islands. Circle International Bermuda Limited, acting as the token administrator, has a minimum investment requirement of one million yuan.