> For the complete documentation index, see [llms.txt](https://docs.opentrade.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.opentrade.io/stablecoin-yield-vaults/stablecoin-yield-vaults/usdc-money-market-fund-fidelity-v5-vault.md).

# USDC Money Market Fund Fidelity (V5) Vault

## Summary 

OpenTrade’s USDC Money Market Fund Fidelity (V5) Vault generates yield, which is exclusively backed by the Fidelity Institutional Liquidity USD Fund, USD and USDC/USDT. Its objective is to provide lenders with the risk-free rate of return for USD. Loans are fully collateralised at all times by the eligible collateral. No securities lending or leverage is permitted.

Interest is benchmarked to the Daily Treasury Bill Rates published by the Federal Reserve Bank of New York.

<table><thead><tr><th width="255">Vault</th><th width="475">Details</th></tr></thead><tbody><tr><td><strong>Vault Name</strong></td><td>USDC Money Market Fund Fidelity (V4) Vault </td></tr><tr><td><strong>Token Symbol</strong></td><td>XTBT</td></tr><tr><td><strong>Protocol Version</strong></td><td>5.0</td></tr><tr><td><strong>Eligible Collateral</strong></td><td>Fidelity Institutional Liquidity USD Fund, USD, USDC</td></tr><tr><td><strong>Base Currency</strong></td><td>USDC</td></tr><tr><td><strong>Loan Term (number of days)</strong></td><td>Open-ended</td></tr><tr><td><strong>Interest Accrual</strong></td><td>Interest begins accruing immediately and compounds daily.</td></tr><tr><td><strong>Investments</strong></td><td>Invest anytime, <a href="/pages/1nzMqIa759KDemHLsYxo">vault tokens</a> minted immediately </td></tr><tr><td><strong>Withdrawals</strong> </td><td>Request anytime; T+0 if made before the cut-off time of 18:00 GMT, up to a maximum of T+2.</td></tr><tr><td><strong>Legal Structure</strong></td><td>Leverages the same institutional grade <a href="/pages/J1YoOSiNKMAp0dqYi2XB">legal framework</a>, <a href="/pages/KgScQz6Jp7sYQgnGWnoH">bankruptcy remote structure</a>, and <a href="/pages/Y51u8U3BRzWpu81v5Jyo">regulated service providers and counter-parties</a> as our other OpenTrade Treasury Management &#x26; Yield Product. </td></tr></tbody></table>

## Eligible Collateral

<table><thead><tr><th>Type</th><th width="209.9288330078125">Rating (if applicable)</th><th>Target Allocation Weight (if applicable)</th></tr></thead><tbody><tr><td>Fidelity Institutional Liquidity USD Fund</td><td>AAA</td><td>99%</td></tr><tr><td>USDC</td><td>N/A</td><td>&#x3C;1%</td></tr><tr><td>USD</td><td>N/A</td><td>&#x3C;1%</td></tr></tbody></table>

## Key Service Providers

<table><thead><tr><th width="333.20574951171875">Service Providers</th><th>Names</th></tr></thead><tbody><tr><td>Portfolio Manager</td><td>Five Sigma Finance</td></tr><tr><td>Asset Issuer(s)</td><td>Fidelity Institutional</td></tr><tr><td>Transfer Agent(s)</td><td>JP Morgan Transfer Agency</td></tr><tr><td>Stablecoin Custodian(s)</td><td>Circle, Coinbase Prime, Fireblocks, Sygnum</td></tr><tr><td>Cash Management and Transaction Bank(s)</td><td>Circle, JP Morgan Transfer Agency, Coinbase Prime, Sygnum, FV Bank</td></tr></tbody></table>


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