KuCoin Unveils KCUSD Stablecoin Yield Product with Up to 6% APR
KuCoin, a major cryptocurrency exchange, has launched a new stablecoin yield product called KCUSD. This product allows users to earn returns on their holdings of $USDT, $USDC, and $USDG without paying a subscription fee.
The base annual percentage rate (APR) for KCUSD is dynamic and can reach up to 4%, but KuCoin is currently offering a promotional APR of up to 6% for qualifying new deposits. Returns are credited daily and automatically reinvested into the user's balance, mirroring a trend in the industry where platforms tie yield to traditional fixed-income instruments.
KuCoin plans to expand the functionality of KCUSD beyond just holding-to-earning, eventually allowing users to use it as collateral for margin and trading activities. However, this feature is not yet live.