Company
Date Published
Author
Alex Behrens
Word count
470
Language
English
Hacker News points
None

Summary

Circle Internet Financial, a fintech company, highlights its regulatory alignment with the Bermuda Monetary Authority through its Class F ("Full") DABA license, which has been instrumental in launching Circle Yield, a high-yield offering for corporate treasury reserves in the crypto capital markets. Although Circle Yield is not currently accepting new loans as of November 2022, Circle acknowledges Bermuda's pivotal role in its product development and the strategic importance of its regulatory framework. The partnership with Bermuda, marked by a commitment to innovation and regulatory compliance, supports Circle's broader market expansion strategy and offers a regulated alternative yield market to institutional investors in the U.S. and Switzerland. Bermuda's Premier, David Burt, commends Circle for leveraging Bermuda's financial services reputation, while Circle's CEO, Jeremy Allaire, emphasizes ongoing collaboration with the Bermuda government to foster responsible financial services innovation.