Circle Internet Financial's Circle Yield is a treasury product exclusively for businesses and accredited investors, designed to provide security and transparency through overcollateralization and regulation by the Bermuda Monetary Authority. Despite the turbulent digital asset market, Circle Yield has met all margin calls and ensured that neither the company nor its customers have incurred any losses, although it is not currently accepting new loans as of November 2022. Circle is offering existing customers the opportunity to withdraw their USDC early without penalty, acknowledging some clients' desire to minimize exposure to digital assets. The platform is built on a full-reserve model and issued in the U.S. as an unregistered security under Regulation D, offering fixed-term lending and borrowing of USDC, with plans to introduce more flexible terms in the future. Circle emphasizes its commitment to playing a significant role in the evolving landscape of digital finance, driven by well-regulated stablecoins like USDC, and continues to innovate based on customer feedback.