Yield-bearing stablecoins surge as Washington fights over yield
Yield-bearing stablecoins are growing faster than the broader market as US lawmakers remain divided over how crypto yield should be regulated.
Yield-bearing stablecoins are growing faster than the broader stablecoin market, according to Messari, as Washington remains divided over how crypto-linked yield should be treated under US law.
Yield-bearing stablecoins have outpaced the growth of the broader stablecoin market 15-fold over the past six months, according to a Messari research report published on Thursday.
The increase was driven by a 198% rise in the market cap of Circle’s USYC (USYC), a 169% increase in Paxos’ Global Dollar (USDG), a 114% rise in the value of the Tron DAO-linked Decentralized USD (USDD), and a 91% rise in Ondo Finance’s Ondo US Dollar Yield (USDY). The overall stablecoin market capitalization rose 9%.