Yield-bearing stablecoins include treasury-backed, DeFi, and synthetic models.
U.S. and EU laws prohibit interest paid by the issuer; access is often restricted.
Rebases and rewards are taxed as income upon receipt.
Risks persist: regulation, markets, contracts, and liquidity.
True yield-bearing stablecoins
They are pegged to the U.S. dollar, backed by reserves, and designed to offer yield.
USDY (Ondo Finance): It is a tokenized note backed by short-term Treasury bonds and bank deposits, available only to non-U.S. users with complete KYC and Anti-Money Laundering (AML) controls. Transfers to or within the U.S. are restricted. USDY acts as a rebase instrument that reflects Treasury yields.
sDAI (Sky): sDAI is a wrapper for DAI deposited in the Dai Savings Rate. Your balance grows at a variable rate determined by Maker governance. It is widely integrated in DeFi, but is based on smart contracts and protocol decisions, not on secured deposits.
Choose your type of stablecoin:
If you want lower risk and traditional backing, consider tokenized coins backed by treasury or money market fund tokens.
Buy or acquire the stablecoin:
Most of these tokens can be acquired on centralized cryptocurrency exchanges, with Know Your Customer (KYC) requirements, or directly through a protocol's website.
