Yield-bearing stablecoin

Also known as: interest-bearing stablecoin, yield stablecoin

A yield-bearing stablecoin (working definition) is a stablecoin product that pays holders a return. Sky, for example, describes its offering as the largest yield-bearing stablecoin, with sUSDS as a tokenised implementation of the Sky Savings Rate for USDS. The GENIUS Act, however, bars payment stablecoin issuers from paying holders interest or yield solely for holding, using or retaining the coin, and MiCA bars e-money token issuers from granting interest.

What the sources say

Source	Quote	Link
Sky.money: largest yield-bearing stablecoin	"Get non-custodial access to the largest yield-bearing stablecoin and a set of features built around it."	sky.money
Sky developer docs: sUSDS	"sUSDS token represents a tokenized implementation of the Sky Savings Rate for USDS, fully compliant with the ERC-4626 standard."	developers.sky.money
GENIUS Act sec. 4(a)(11): prohibition on interest	"No permitted payment stablecoin issuer or foreign payment stablecoin issuer shall pay the holder of any payment stablecoin any form of interest or yield (whether in cash, tokens, or other consideration) solely in connection with the holding, use, or retention of such payment stablecoin."	govinfo.gov
MiCA Art. 50(1): no interest on EMTs	"Notwithstanding Article 12 of Directive 2009/110/EC, issuers of e-money tokens shall not grant interest in relation to e-money tokens."	publications.europa.eu

Where the sources differ

The sources frame the term differently. Issuers market "yield-bearing stablecoins" (Sky). The GENIUS Act bars payment stablecoin issuers from paying interest "solely in connection with the holding, use, or retention" of the coin, and MiCA bars interest on e-money tokens (Art. 50) and asset-referenced tokens (Art. 40). This page does not say which products fall under which law.

Related terms

revain.org

Sources

Updated: 2026-11-01 · Markdown version