Circle Yield, a product offered by Circle Internet Financial, provides crypto businesses with an alternative for managing volatility risk while staying within the Web3 ecosystem. As of November 17, 2022, Circle Yield has paused accepting new loans, with future updates pending evaluation. Designed to offer above-average annual percentage yields (APYs) on loaned USD Coin (USDC), Circle Yield operates through crypto capital markets, offering terms from one to twelve months with fully secured and overcollateralized loans. This helps mitigate the inherent market risks associated with correlated digital assets like Bitcoin and Ethereum, and addresses the unpredictability and cost of hedging with options or futures. The product is positioned as a tool for balancing inflation protection with asset exposure while maintaining liquidity. USDC within Circle Yield can be used across multiple blockchains and converted to USD for traditional financial use, facilitating near-instant transactions with lower fees compared to conventional banking systems. However, the offering is subject to business approval, geographical availability, and regulatory authorization, without guaranteed availability timelines. While regulated by the Bermuda Monetary Authority for digital asset business, Circle Bermuda, the provider, is not a bank and does not offer traditional banking or insured deposit services. The product is only available to "accredited investors" in the U.S., and potential participants are advised to conduct thorough investigations and consult advisors regarding risks and costs.