TL;DR: Hermetica has integrated Clear Street, a U.S. broker-dealer and FINRA and SIPC member. Clear Street now executes, settles and custodies the reserve’s securities, starting with STRC.
Direct Access to Bitcoin-Backed Credit
Hermetica has integrated Clear Street to directly trade and custody listed Bitcoin-backed securities, including STRC. Clear Street is a U.S. broker-dealer and FINRA and SIPC member providing execution, clearing, custody and financing infrastructure for institutional investors. In its February 2026 Form S-1, the firm reported more than 2,000 clients, $31.3 billion in daily trading activity and more than $17.7 billion in interest-bearing client balances.
The integration gives Hermetica a direct route into Bitcoin-backed credit. USDh reserve capital can now be used to purchase securities such as STRC directly, with execution, settlement and custody handled within the same institutional brokerage infrastructure.
Execution, Custody and Transparency
Hermetica allocates USDh reserve capital to eligible listed securities through Clear Street. Clear Street executes and settles each trade, then holds the securities in Hermetica’s custodial account. Positions can subsequently be increased or reduced through the same brokerage account.
While held, these securities pay preferred dividends that accrue to the USDh reserve strategy.
Clear Street provides account-level records of securities holdings for ongoing monitoring and reconciliation. Positions are reflected on the Hermetica Transparency Dashboard, while USDh’s monthly attestations will verify the amount of assets held with Clear Street.
Securities held at Clear Street are treated as customer property under U.S. broker-dealer segregation rules, held separately from the firm’s own assets. SIPC membership protects customer securities in the event of broker-dealer failure.
Building Digital Money on Bitcoin
Bitcoin already anchors financial activity across savings, credit, lending, derivatives and settlement. USDh brings a dollar-denominated instrument into that system. Bitcoin remains the reserve and savings asset, while USDh provides a stable unit for pricing. We call this digital money on Bitcoin.
The Clear Street integration adds another layer to USDh’s digital money stack.
