Eligibility file · treasury fund
Circle USYC
What the client owns
Issuer direct. The on-chain record is the securityholder file; the holder is the registered owner.
Who may hold it
Not offered to US persons. First purchase $100,000.
Who can freeze or claw back
Circle International Bermuda Limited (token administrator); the fund administrator keeps the shareholder register: clawback · mint · upgrade on Ethereum.
How it exits
Redeem with the issuer in its window. Subscription and redemption through the Circle portal at NAV, T+0 for USDC during the published window, otherwise T+1. Settles in USDC, USD.
Research and shelf status are on the memo: Circle USYC Favorable research; shelf not set
Who may buy, hold, transfer, and redeem
The issuer’s own terms, restated. Where the documents say nothing, the row says so.
| Question | The issuer’s terms |
|---|---|
| US persons | Not permitted |
| Investor status | Not offered to US persons |
| Account types | entity |
| First purchase minimum | $100,000 |
| Who onboards the holder | issuer |
| Voting rights | None |
| Distributions | reinvested |
| SIPC coverage of the wallet | No |
Who can change the record
Powers read from the deployed contract and its verified source, not from marketing copy. A power recorded here is the issuer’s ability, not evidence it has been used.
| Chain | Allowlist | Freeze | Pause | Clawback | Mint authority | Upgradeable |
|---|---|---|---|---|---|---|
| Ethereum | No | No | No | Yes | Yes | |
| Solana | Yes | Yes | Yes | Yes | No |
- onchain:0x136471a34f6ef19fe571effc1ca711fdb8e49f2b#eip1967.implementation=0xbf0f2f3aad6b99893d80c550fbacec915545eb92@26036814 · read 2026-09-23
- onchain:0x136471a34f6ef19fe571effc1ca711fdb8e49f2b#owner()=0x13ff8cabb86edf94a2df4f98773bda4005182dd6@26036814 · read 2026-09-23
- abi:sourcify:1:0xbf0f2f3aad6b99893d80c550fbacec915545eb92#burn · read 2026-09-23
- abi:sourcify:1:0xbf0f2f3aad6b99893d80c550fbacec915545eb92#mint · read 2026-09-23
- abi:sourcify:1:0xbf0f2f3aad6b99893d80c550fbacec915545eb92#upgradeTo · read 2026-09-23
- onchain:7LWanZteUKtvFjv4MHYgKXXdAuCQYFPJysL9pxxdRQGn#mintAuthority=DZ7j2YLDq7847t2HtCWaDQUTpLJ4BinPGsY8w9Aai63y@449549861 · read 2026-09-23
- onchain:7LWanZteUKtvFjv4MHYgKXXdAuCQYFPJysL9pxxdRQGn#freezeAuthority=DZ7j2YLDq7847t2HtCWaDQUTpLJ4BinPGsY8w9Aai63y@449549861 · read 2026-09-23
- onchain:7LWanZteUKtvFjv4MHYgKXXdAuCQYFPJysL9pxxdRQGn#permanentDelegate=DZ7j2YLDq7847t2HtCWaDQUTpLJ4BinPGsY8w9Aai63y@449549861 · read 2026-09-23
- onchain:7LWanZteUKtvFjv4MHYgKXXdAuCQYFPJysL9pxxdRQGn#defaultAccountState=frozen@449549861 · read 2026-09-23
On-chain and ABI evidence
Where it trades
| Venue | Kind |
|---|---|
| Circle USYC portal | issuer primary |
No Tokenized Securities Venue lists this token. Secondary trading, if any, is outside the exemption.
How it exits
| Path | Cutoff | Settlement | Minimum | Fee | Settles in |
|---|---|---|---|---|---|
| Redeem with the issuer in its window | Subscription and redemption through the Circle portal at NAV, T+0 for USDC during the published window, otherwise T+1 | USDC, USD |
- Circle opens a share class to U.S. persons or changes the $100,000 minimum
- The Ethereum implementation or owner changes, or a transfer allowlist or blacklist is added to the token contract
- The Solana mint, freeze, or permanent-delegate authority changes, or the pausable extension is used
- A NAV impairment, a missed redemption inside the published window, or a token-administration incident
- Circle publishes the BSC, Canton, or NEAR contract identities; those chains are then read and added
Reopen conditions: events that change an answer above
What the monitor reads daily
Every control function in the table above, the token’s price against its stated NAV, and on-chain supply. A change reopens the file before any client action.
Sources
- Circle developer docs — USYC overview · primary · accessed 2026-09-23
Supports: available only to entities that are not U.S. Persons under Regulation S, T+0 settlement - Circle — USYC product terms and fund facts · primary · accessed 2026-08-01
Supports: $100,000 minimum, Cayman mutual fund, Treasury bills and reverse repos - Circle developer docs — USYC portal subscription and redemption · primary · accessed 2026-08-01
Supports: portal onboarding, redemption window - Circle developer docs — USYC public price and entitlement APIs · primary · accessed 2026-08-01
Supports: published NAV price, entitlement check - Verified implementation on Ethereum (Sourcify) · primary · accessed 2026-09-23
Supports: owner-gated mint, burn from a holder address, upgradeTo