Which stablecoins actually pay me a yield, and where does that yield come from?
9 yield-bearing stablecoins in our data state a yield. The highest right now is sUSDai from usd.ai at ~6.24% (variable). The range runs from 0.71% (scrvUSD) to 6.24%. 8 of them can be bought on a DEX without KYC. Yields are variable and not guaranteed.
A plain stablecoin such as USDT or USDC pays nothing; the issuer keeps the interest. Yield-bearing stablecoins pass a return on — from treasuries, from lending, or from trading strategies such as funding-rate arbitrage. The source of the yield is the risk, so it is shown on every token page.
How this list is made: computed from the live TokenBank dataset each time the page is built — 9 matching rows, each linked to its own page and source.
Figures from our live dataset · data as of 2026-10-18 · this answer as JSON · not investment advice
| Token | Issuer | Yield / return | Minimum | KYC to buy | Chain |
|---|---|---|---|---|---|
| sUSDai usd.ai (staked) | usd.ai | ~6.24% (variable) checked 18 Oct 2026 | None | No KYC on a DEX | Arbitrum |
| USD0++ Usual USD0++ | Usual | ~4.78% (T-bill base + USUAL rewards) checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum |
| sUSDe Ethena Staked USDe | Ethena Labs | ~4.71% (variable) checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum (+L2) |
| sUSDf Falcon USDf (staked) | Falcon Finance | ~4.58% (variable) checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum |
| YLDS Figure YLDS | Figure Markets | ~4% (SOFR-linked) checked 23 Jul 2026 · over 30 days old | None | Not stated | Provenance / Ethereum |
| sfrxUSD Staked Frax USD | Frax Finance | ~4.9% (~4-5%) checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum / Fraxtal |
| sUSDS Sky Savings Token | Sky (MakerDAO) | ~3.8% checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum (+Solana, Base) |
| sDAI Savings DAI | Sky (MakerDAO) | ~1.25% checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum (+Gnosis, L2) |
| scrvUSD Curve Savings crvUSD | Curve Finance | ~0.71% (variable) checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum |
How to choose
Ask first where the yield comes from. Treasury-backed tokens carry the interest-rate and issuer risk of a money-market product; strategy-backed ones such as sUSDe depend on funding rates that can turn negative; lending-based ones depend on borrowers repaying. A higher yield is almost always payment for one of these risks. Then check how you get out: whether the token can be redeemed with the issuer or only sold on the market decides what happens to its price under stress.
More questions
Which of them can I buy without KYC?
8 of 9 can be bought on a DEX without identity verification: sUSDai, USD0++, sUSDe, sUSDf, sfrxUSD, sUSDS, sDAI, scrvUSD. For the rest, the source does not state the secondary-market gate.
Where does the yield come from?
sUSDai: Loans collateralized by GPU/AI hardware. USD0++: US T-bills + protocol token emissions. sUSDe: Delta-neutral futures basis trade + staking. sUSDf: Diversified market-neutral strategies. YLDS: Prime money-market style assets (SOFR-linked). sfrxUSD: Carry trade + AMOs + T-bill rate (partly BUIDL-backed). sUSDS: Over-collateralized crypto loans + RWA/T-bills. sDAI: DAI Savings Rate (protocol revenue). scrvUSD: crvUSD borrow interest revenue.
Are these yields fixed?
9 of 9 are variable: the rate moves with markets and is not guaranteed. The figures on this page were last checked between 2026-07-23 and 2026-10-18.