Circle introduces regulated Crypto Yield and treasury solution
By Pavithra R
Circle, a global financial technology firm that provides payments and treasury infrastructure for digital businesses, has announced the launch of the well-regulated crypto yield and treasury solution for enterprises and corporate treasury leaders, Circle Yield.
Regulated by the Bermuda Monetary Authority (BMA), the solution builds on Bermuda’s long-standing leadership and reputation in organizing institutional capital. Circle’s Class F (“Full”) DABA license, originally granted in 2019, has ensured the expansion of BMA oversight to include the newly launched high yield offering, a landmark option for corporate treasury reserves to be deployed in crypto capital markets to earn yield on idle capital.
“Circle was the world’s first fintech company to receive the BMA’s Class F (“Full”) DABA license and ever since we have maintained a deep commitment to Bermuda and building the future of money and payments on the Internet, with Bermuda being an important part of our global operational platform. With the launch of Circle Yield, together with our recent strategic capital raise, we look forward to building our operations in Bermuda to support substantial corporate treasury demand for crypto assets and yield, while at the same time supporting Circle’s overall market expansion strategy,” said Jeremy Allaire, Circle’s co-founder and CEO.
With more than $100 bn in risk capital regulated in Bermuda, Circle offers a well-regulated alternative yield market for institutional investors and corporate treasurers domiciled in the U.S. and Switzerland. Under the BMA’s authority, Circle’s high yield solution provides an early access period to institutional investors to leverage yield generating opportunities in a safe and compliant manner supporting high growth digital assets and crypto markets.
During the early access period, Circle Yield will be limited to U.S. or Swiss-based companies and institutional investors, and the firm will continue working collaboratively with the BMA and the Government of Bermuda to ensure responsible financial services innovation serving institutional customers from a competitive Bermuda-based regulatory platform.
“Circle is a true pioneer in the blockchain-based economy. Their selection of Bermuda to launch the world’s first regulated institutional yield product is a testament to the attractiveness of Bermuda’s regulatory framework and our regulator, the Bermuda Monetary Authority. It showcases how key players like Circle are leveraging Bermuda’s long standing reputation as one of the world’s most innovative financial services hubs to power a revolution in the Internet of value. Circle has been a key driver of this movement and we are honored that Circle calls Bermuda home and continues to invest in the island,” said Bermuda’s Premier, the Honorable David Bur.
Founded in 2013, Circle is a global FinTech firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments and commerce worldwide.