How much do private credit tokens yield, and what risk am I taking for the extra return?
4 private credit tokens in our data state a yield. The highest right now is CUSHY from Coinbase Asset Management, LLC / Superstate at 30-Day yield 8.11% as of Aug 31, 2026; targets SOFR + 400-700bps+. The range runs from 3.00% (CENTRIFUGE) to 8.11%. 2 of them can be bought on a DEX without KYC. Yields are variable and not guaranteed.
Private credit tokens lend to companies or funds off-chain and pay the interest on-chain. Yields are higher than treasuries because the borrower can default; the token page names the borrower type and the source of every figure.
How this list is made: computed from the live TokenBank dataset each time the page is built — 4 matching rows, each linked to its own page and source.
Figures from our live dataset · data as of 2026-10-19 · this answer as JSON · not investment advice
| Token | Issuer | Yield / return | Minimum | KYC to buy | Chain |
|---|---|---|---|---|---|
| CUSHY Coinbase USD Stablecoin Yield Fund (Coinbase Tokenized Stablecoin Yield US Feeder Fund LTD) | Coinbase Asset Management, LLC / Superstate | 30-Day yield 8.11% as of Aug 31, 2026; targets SOFR + 400-700bps+ date not stated | $100,000 | Not stated | Solana / Base |
| JAAA Janus Henderson Anemoy AAA CLO Fund | Janus Henderson (Centrifuge / Anemoy) | ~5.8% (stated by Anemoy, undated) checked 19 Oct 2026 | None (deJAAA) | Not stated | Ethereum / Base / Solana (deJAAA) |
| syrupUSDC Maple Syrup USDC | Maple Finance | ~5.14% checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum / Solana / Base |
| CENTRIFUGE Centrifuge RWA Vaults | Centrifuge (vaults per manager) | ~3-6% (per vault, variable) checked 23 Jul 2026 · over 30 days old | None | No KYC on a DEX | Ethereum / Avalanche (+) |
Side by side
| CUSHY | JAAA | syrupUSDC | CENTRIFUGE | |
|---|---|---|---|---|
| Where the yield comes from | — | Interest from AAA-rated floating-rate CLOs | Institutional, over-collateralized lending | Institutional RWA credit portfolios |
| Risk (our label) | — | Low | Medium | Medium |
| Custody | — | Self-custody | Self-custody | Self-custody |
| Liquidity | — | Daily; deJAAA freely transferable on DEXs | Redeem via liquidity buffer; large amounts may queue | Vault-dependent |
| KYC to mint with the issuer | Not stated | Not stated | No KYC | No KYC |
| KYC to buy on a market | Not stated | Not stated | No KYC | No KYC |
| KYC to redeem | Not stated | Not stated | Not stated | Not stated |
| Assets under management | — | $438M | $1.36B | ~$1.5B+ across vaults |
| Jurisdiction | USA | US (Janus Henderson) / decentralized rails | Global | Decentralized protocol |
| How to buy | Through Superstate, after its onboarding | Buy deJAAA via Centrifuge (centrifuge.io) or a DEX | Buy syrupUSDC at app.maple.finance or on a DEX | Connect a wallet at centrifuge.io, pick a vault |
How to choose
Private credit pays more than treasuries because loans can default. Look at who the borrowers are, whether the loans are over-collateralised, and how losses are absorbed — some pools have a junior tranche that takes the first loss. Withdrawals are often not instant: many pools process redemptions in queues or windows, so the money can be locked exactly when you want it.
More questions
Which one has the lowest minimum?
JAAA (Janus Henderson (Centrifuge / Anemoy)), with no minimum. The highest stated minimum here is CUSHY, with minimum $100,000.
Which of them can I buy without KYC?
2 of 4 can be bought on a DEX without identity verification: syrupUSDC, CENTRIFUGE. For the rest, the source does not state the secondary-market gate.
Where does the yield come from?
JAAA: Interest from AAA-rated floating-rate CLOs. syrupUSDC: Institutional, over-collateralized lending. CENTRIFUGE: Institutional RWA credit portfolios.
Which is the largest?
By size, CENTRIFUGE at $1.5B, followed by syrupUSDC at $1.4B and JAAA at $438M. Size is not safety, but a larger product usually means a deeper market to sell into.
How risky are they?
JAAA: Low. syrupUSDC: Medium. CENTRIFUGE: Medium. The risk label is ours, in plain language, and is explained on each token page.
Are these yields fixed?
4 of 4 are variable: the rate moves with markets and is not guaranteed. The figures on this page were last checked between 2026-07-23 and 2026-10-19.