Highest-Paying Stablecoin Yield Programs for April 2026
Some crypto exchanges offer stablecoin yield programs with high APYs, but they have risks, and could be affected by pending legislation.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Published · 4 min read
Written by
Lead Writer 
Edited by
Managing Editor 
Some quick (but important) notes 🤓
- Stablecoin yield programs sometimes pay more than traditional banking products, but they generate yield in riskier ways and are not FDIC-insured.
- Some of these programs require paid subscriptions. Be sure to include the monthly or annual fee in your yield calculation.
- Proposed legislation could severely affect some stablecoin yield programs but spare others.
If you’ve explored the cryptocurrency world, you’ve probably heard of stablecoins: U.S. dollar-pegged cryptocurrencies such as Circle (USDC), Ripple USD (RLUSD) and Tether (USDT). As their name implies, these offer price stability, in contrast to the wild price swings of traditional cryptocurrencies like Bitcoin and Ethereum.
If you’ve poked around some more, you may have heard that some crypto platforms pay a yield on stablecoins — but where does that yield come from?
The answer lies in a relatively new and complicated type of crypto activity called a stablecoin yield program. Here’s an overview of how these savings-account-like products work, their risks, and some of the highest-yielding ones on the market today.
What are stablecoin yield programs?
Stablecoin yield programs are offerings from cryptocurrency trading platforms that let users deposit stablecoins and earn passive income on them.
Some stablecoin yield programs require users to lock up their money for a specific period of time in order to earn a yield, making them sort of a crypto equivalent of a certificate of deposit (CD), while others pay out more flexibly, like a savings account.
Some crypto platforms offer stablecoin yield programs for free to all users, while others restrict them to paying users with premium subscriptions. In the latter case, investors should keep in mind that the subscription cost will reduce their net yield.
Under the hood, stablecoin yield programs generate returns in a variety of ways. Some put investors’ money into decentralized finance (DeFi) lending pools that lend out crypto to traders or financial institutions, who pay interest on those loans that’s then used to pay your yield. These can be risky due to the lack of regulation around them. Other stablecoin yield programs invest funds in safer income investments like Treasury bills, or do a mix of the two.
Some crypto platforms that offer free stablecoin yield programs profit from these programs by keeping a portion of the returns, and passing the rest onto investors. Others only offer them to investors who meet minimum deposit or minimum trading activity requirements.
The highest-paying programs
Below is a list of the stablecoin yield programs offered by the crypto platforms reviewed by NerdWallet, ranked from highest to lowest maximum annual yield.
| Program name | Maximum yield | Notes |
|---|---|---|
| Kraken USDC Rewards | 5% | Top yield ("bonded rewards" program) requires 30-day lockup period. Up to 4% yield for "flexible rewards" program. $10 minimum. |
| Gemini Asset Rewards | 4% | Uses the RLUSD coin. |
| Crypto.com Earn | 3.70% | Can use USDC, USDT or USC coins. Only available to paid members: up to 2.70% for Plus members ($4.99/mo or $49.90/yr), up to 3.70% for Pro members ($29.99/mo or $299.90/yr). |
| Coinbase One USDC Rewards | 3.50% | Requires Coinbase One membership ($4.99/mo or $49.99/yr) |
| Uphold Rewards | 3% | 3% on RLUSD, 2% on USDC. Requires you to open the app, deposit $50, and trade at least $50 at least once a month. |
Source: Platform websites. Data is current as of Mar. 31, 2026, and is intended for informational purposes only.
» More about these platforms: Best crypto exchanges & apps
Advertisement
Fees $0per trade | Fees 2%-5.5% |
Account minimum $0 | Account minimum $1 |
Promotion Up to 4% match (up to $2M)when you open and fund an account with Webull | Promotion Noneno promotion available at this time |
Net APY calculator for paid stablecoin yield programs
The calculator below can help you calculate net annual percentage yield (APY) for stablecoin yield programs that require a paid subscription. If you pay for a subscription and only deposit a small amount of money, the subscription may cost more than you earn in yield. The calculator below will display a negative APY in that case.
What are the risks of these programs?
Some of these stablecoin yield programs have higher APYs than many traditional savings vehicles, such as those featured in NerdWallet’s Best CD Rates and Best High-Yield Savings Accounts roundups.
That said, it’s important to note that these things aren’t apples-to-apples. High-yield savings accounts and CDs have Federal Deposit Insurance Corp. protection, while stablecoins do not.
The risk of something going wrong on the issuer side isn’t just theoretical, either. There have been some high-profile failures of crypto-based income investment schemes in the past, such as Gemini freezing withdrawals from its Gemini Earn crypto lending program in 2022 amid the FTX crisis. In that case, customers didn’t get their money back for more than a year.
Stablecoins may offer an extra percentage point or two of yield over the top CDs and HYSAs, but savers need to consider whether they’re willing to accept the risk of something similar happening.
On top of that, the webpages of these stablecoin yield programs usually have fine print that notes that their yields are subject to change without notice, and many have seen their yields fluctuate dramatically over the last year or two. Traditional banking products, on the other hand, tend to have more stable yields that change slowly in response to predictable factors like Federal Reserve action.
How could the Clarity Act affect stablecoin yields?
The future of stablecoin yield programs is uncertain at the moment, because of a federal bill called the Digital Asset Market Clarity Act.
The Clarity Act passed the House of Representatives in July 2025, and is currently working its way through the Senate. It’s part of a recent effort to create a national regulatory framework for digital assets such as stablecoins (and other cryptocurrencies), and some of its provisions may spell trouble for stablecoin yield programs.
The latest draft of the bill prohibits platforms from paying out passive yields just for holding stablecoins, and only allows them to pay out yields on stablecoin deposits as part of activity-based reward programs. If the bill passes the Senate and is signed into law in its current form, the Uphold Rewards program may be OK, but the others could face an uncertain future.
» Another way to earn crypto rewards: Best crypto credit cards
Article sources
NerdWallet writers are subject matter authorities who use primary,
trustworthy sources to inform their work, including peer-reviewed
studies, government websites, academic research and interviews with
industry experts. All content is fact-checked for accuracy, timeliness
and relevance. You can learn more about NerdWallet's high
standards for journalism by reading our
editorial guidelines.
