Hashnote
- Company typePrivate
- Founded2022
- HeadquartersMiami Beach, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
Hashnote firmographics
Firmographics- Name
- Hashnote
- Legal name
- Hashnote Management LLC
- Website
- https://hashnote.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Hashnote industry classification
Industry- Product category
- Tokenized Asset Management
- NAICS
- Open-End Investment Funds (525910)
- SIC
- Asset-Backed Securities (6189)
- akta.pro primary industry
- Tokenized Treasury, Money Market & Cash Management Products (FSADAEAB)
- akta.pro secondary industries
- Tokenized Securities & Capital Markets (Equity, Debt, Funds) (FSADAEAA), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)
Keywords
Where Hashnote is headquartered
LocationHeadquarters
- HQ city
- Miami Beach
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Hashnote business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Management and Performance Fees: Performance fee of 10% of yield generated. Subscription fee of 4 basis points and redemption fee of 3 basis points. Additional tiered fees for private liquidity arrangements.
- Transaction Fees: Subscription and redemption fees charged on token transactions. 4 bps subscription fee, 3 bps redemption fee. Tiered fees available for private liquidity.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Standard USYC fees |
| Subscription | Pay-as-you-go | Private Liquidity Teller |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Hashnote product offering
Product offeringCore offering
Hashnote is a regulated, institutional-grade digital asset manager that issues tokenized money market and treasury-backed investment products, most notably the USYC (US Yield Coin) ERC-20 token, which is backed by reverse repurchase agreements on U.S. Government Securities and distributes daily yield to holders. The platform combines traditional fund vehicles (e.g., Hashnote International Short Duration Yield Fund registered in the Cayman Islands) with on-chain smart contract infrastructure (Teller contracts, Oracle price feeds, Entitlements system, cross-chain deployment across Ethereum, Base, Canton, Solana, and BSC) to provide 24/7 subscription, redemption, and collateral utility for institutional investors and trading firms.
Product overview
Hashnote is a regulated digital asset manager providing institutional investors with customizable on-chain investment strategies. The platform operates as a unified product ecosystem consisting of Cash Management products (centered on USYC, the flagship yield-bearing token backed by U.S. Treasury Bills and reverse repos), Long Token Fund products for crypto asset exposure (BTC, ETH, staking), and Crypto Yield & Hedging Strategies utilizing derivatives (covered calls, puts, spreads). Supporting services include Harbor custodianship, the CoinDesk 20 Index Fund, Opportunistic Stablecoin Yield Strategy, Private Wealth Management, and Foundation Treasury Management. Hashnote is registered with the CFTC as a CPO and the fund is registered with CIMA. In 2025, Hashnote was acquired by Circle and USYC was integrated into Circle's product lineup as a tokenized money market fund.
Differentiator
Problem solved
Functional benefit
Brands
- USYC (US Yield Coin): A yield-bearing tokenized money market fund backed by reverse repurchase agreements on U.S. Government Securities, offering daily yield disbursement to holders.
- Hashnote Harbor
- OSYC (Opportunistic Stablecoin Yield Strategy)
- CD20 (Hashnote CoinDesk 20 Index Fund Series)
Products and services
- USYC (US Yield Coin) Yield-bearing ERC-20 token representing shares in the Hashnote International Short Duration Yield Fund (SDYF), backed by reverse repurchase agreements on U.S. Government Securities. Disburses daily yield, supports T+0 redemption and instant liquidity, and is deployed across Ethereum, Base, Canton, Solana, and BSC for non-US institutional investors and trading firms.
- Hashnote Harbor
Quantifiable outcome
- T+0 same-day redemption to USDC with 20% available for instant withdrawal via smart contract
- +2 more outcomes
Companies that use Hashnote
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Hashnote technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature5 records
Hashnote partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and secondary.
- CirclecoreCircle acquired Hashnote Management LLC in January 2025, integrating USYC into Circle's full-stack platform. Circle is a regulated stablecoin issuer operating globally with 55+ licenses. Hashnote now operates as a Circle company.
- Core DAOsecondaryStrategic partnership integrating USYC with Core's Bitcoin staking infrastructure. First and only Proof of Stake Layer for Bitcoin, enabling institutional Bitcoin yield strategies.
- FireblockscoreFireblocks supports USYC as collateral asset on Deribit through Fireblocks Off Exchange. Traders can securely hold USYC off-exchange while using it as collateral. MPC wallet provider for USYC custody.
- Canton NetworkcoreUSYC deployed on Canton Network with privacy features. First tokenized money market fund with built-in privacy for institutional transactions. Canton is an enterprise blockchain for institutional finance backed by Digital Asset.
- DeribitcoreUSYC live as collateral option on Deribit crypto options exchange. USYC holders can use tokens as margin collateral for trading while earning yield.
- QCPcoreQCP integrated USYC as approved collateral for digital asset investment offerings. Tri-party custody arrangement with Fireblocks. Singapore-based digital asset trading firm serving institutional investors.
- CentrifugesecondaryUSYC used as collateral in Centrifuge's institutional RWA lending market on Coinbase's Base network and Morpho vaults.
- Digital AssetcoreDigital Asset provided Canton tokenization utility for USYC deployment. Hashnote leverages Digital Asset's smart contract templates and standards for asset registry and trading.
- Anchorage DigitalsecondaryUS-regulated crypto custody firm offering Hashnote's yield products to clients. Anchorage clients gain access to up to 40% yields through the partnership.
- MarexcorePrime brokerage services for Hashnote's fund operations, including trade execution and asset custody.
- Customers BankcoreBanking partner for Hashnote's fund operations.
- Cohen and CompanycoreExternal auditor for Hashnote's fund operations.
- NAV ConsultingcoreFund administrator managing share registry and KYC/AML services for Hashnote.
- LMO ConsultingcoreKYC and AML compliance services for investor onboarding.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
Hashnote competitors and assessment
Company assessmentBroad incumbents
- Securitize: Securitize is a regulated tokenization platform providing issuance, transfer agent, and compliance infrastructure for tokenized securities and funds, overlapping with Hashnote's tokenized money market offerings.
- Paxos: Paxos issues regulated stablecoins and yield-bearing tokenized products (e.g., Pax Gold, regulated yield products), and shares Hashnote's emphasis on NYDFS/BMA-style regulatory credentials for institutional digital assets.
- WisdomTree: WisdomTree has issued tokenized money market and treasury products and competes with USYC in regulated tokenized yield offerings targeted at institutional and wealth clients.
- Tether (tokenized Treasury products): Tether has expanded into tokenized Treasury products (e.g., Alloy, Hadron), competing broadly with USYC in tokenized US Treasury exposure at institutional scale.
- Franklin Templeton (BENJI): Franklin Templeton's BENJI is an early tokenized US government money fund, comparable to USYC and a leading incumbent demonstrating institutional appetite for on-chain treasury exposure.
- BlackRock (BUIDL Fund): BlackRock's BUIDL is a tokenized money market fund on Ethereum backed by US Treasuries, directly competing with USYC at the institutional level but benefiting from BlackRock's massive brand and distribution.
Emerging players
- Maple Finance: Maple offers tokenized credit and treasury yield products to institutions, making it a comparable emerging player in on-chain institutional cash management and yield strategies.
- Centrifuge: Centrifuge operates an institutional RWA tokenization protocol that integrates USYC as collateral, making it an adjacent RWA platform peer targeting institutional on-chain finance use cases.
- Sky/MakerDAO (sUSDS): Sky's sUSDS / MakerDAO's savings rate offer tokenized yield-bearing stablecoin exposure, representing a DeFi-native parallel to USYC's tokenized treasury cash-management product.
Direct peers
- Ondo Finance: Ondo Finance issues tokenized US Treasury and yield products (OUSG, USDY), making it the closest direct competitor to Hashnote's USYC in the institutional, tokenized money-market fund category.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Hashnote social profiles
Digital presenceHashnote compliance and trust
Trust signalCompliance4 records
Hashnote financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hashnote leadership team
Management profileNumber of profiles
Profiles3 records
Hashnote subsidiaries and ownership
Company hierarchySubsidiaries1 record
Hashnote funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hashnote M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hashnote
What does Hashnote do?
Hashnote is a regulated, institutional-grade digital asset manager that issues tokenized money market and treasury-backed investment products, most notably the USYC (US Yield Coin) ERC-20 token, which is backed by reverse repurchase agreements on U.S. Government Securities and distributes daily yield to holders. The platform combines traditional fund vehicles (e.g., Hashnote International Short Duration Yield Fund registered in the Cayman Islands) with on-chain smart contract infrastructure (Teller contracts, Oracle price feeds, Entitlements system, cross-chain deployment across Ethereum, Base, Canton, Solana, and BSC) to provide 24/7 subscription, redemption, and collateral utility for institutional investors and trading firms.
Is Hashnote a public or private company?
Hashnote is a private company. It is classified as corporate owned and is currently operating.
When was Hashnote founded?
Hashnote was founded in 2022. It employs 1 to 10 people.
Where is Hashnote based?
Hashnote is headquartered in Miami Beach, United States, in the North America region.
How does Hashnote make money?
Two revenue lines are on record. Management and Performance Fees are the primary driver. The others are transaction Fees.
Who are Hashnote's main competitors?
Broad incumbents on record are Securitize, Paxos, WisdomTree, Tether (tokenized Treasury products), Franklin Templeton (BENJI) and BlackRock (BUIDL Fund). Emerging players are Maple Finance, Centrifuge and Sky/MakerDAO (sUSDS). Ondo Finance is listed as a direct peer.
Does Hashnote have an API?
Yes. Hashnote provides public Web2 API endpoints for USYC token operations. These HTTP endpoints serve as alternatives to smart contract calls and do not require authentication. Available endpoints include: (1) GET current USYC token price, (2) GET historical USYC price data, (3) GET entitlement check for wallet address to verify eligibility to hold USYC. Endpoints are available on both mainnet and Sepolia testnet for development purposes. Developer documentation is at usyc.docs.hashnote.com/overview/web2-api.
What industry is Hashnote in?
Hashnote's product category is Tokenized Asset Management. Its primary akta.pro industry code is FSADAEAB, Tokenized Treasury, Money Market & Cash Management Products, with a secondary code of FSADAEAA, Tokenized Securities & Capital Markets (Equity, Debt, Funds). Its NAICS code is 525910 and its SIC code is 6189.