Yield

Circle Yield Early Access Update: Strong Demand and Rapid Growth

Circle Yield Early Access Update: Strong Demand and Rapid Growth

Rachel Mayer Rachel Mayer October 20, 2021

We’re excited to share that since onboarding our first customers into Circle Yield in July, we’ve seen total deposits increase by nearly 200%. Current Circle Yield customers include leading family offices, venture capital firms, crypto partners and corporate treasurers across multiple industries. As of October 20, 2021, Circle Yield* offers qualified businesses up to 7%** APY on idle capital reserves and is available with terms ranging from 1-12 months across a full yield curve.  

Market trends are driving robust and growing demand for dollar digital currency lending services, with the total supply of USDC increasing more than 1,100% in the past year as investors hunt for returns in DeFi and other crypto-related markets. Meanwhile, blockchain data shows that stablecoin loans have increased at an annualized rate of more than 190% in 2021, to a total of nearly $20 billion outstanding today. 

Circle Yield is fully secured with Bitcoin collateral, offering businesses one of the easiest and most secure routes into crypto lending. Customers also benefit from a dedicated team of professionals who help provide smooth onboarding and continuous support throughout the life of the loan.

Yield is currently available to qualified businesses in the US and Switzerland*, with availability in additional countries expected to be rolling out soon.

 

*Offering subject to business approval, geographical availability***, and regulatory authorization, and there is no guarantee that the product will become available in a specific timeframe or to a specific customer or geography. Circle Yield offered by Circle International Bermuda Limited (“Circle Bermuda”).

Circle Account and money transmission services are provided by Circle Internet Financial, LLC or, for customers using Circle Account services located in the United Kingdom, Circle UK Trading Company Limited. Circle Internet Financial, LLC, NMLS # 1201441, is a licensed provider of money transmission services. Circle Payments, LLC, DFPI Money Transmitter License # 2549, is registered under the California Department of Financial Protection & Innovation. A full list of Circle’s licenses can be found here

Circle is not a bank; your Circle Account is not a bank account, and any funds are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation or by any US or foreign government agency, insurance fund, person or entity. For investors in the United States, investments described in this communication are offered by Circle Bermuda to “accredited investors” only in accordance with Regulation D, Rule 506(c) of the Securities Action of 1933, as amended. While Circle Bermuda is regulated by the Bermuda Monetary Authority for digital asset business, Circle Bermuda is not engaged in banking and deposit taking activities and is not regulated for these purposes. You should carefully conduct your own investigations and analyses in connection with any participation in this product, including its objectives, risk factors, fees and expenses and the information set forth in these materials. All prospective participants in the products described herein are advised to consult with their legal, accounting and tax advisers regarding any potential participation. Please read the offering documents carefully before you invest. Additional information is available upon request. 

**Rates are purely indicative and are subject to change pending availability, approval and market conditions.. 

*** Not currently available in the following U.S. states: Alaska, Minnesota, New York and Hawaii.

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