Yield-bearing stablecoins are growing 15 times faster than existing stablecoins and are leading the market, Cointelegraph reported on March 13, citing crypto market analytics firm Messari.
Messari said stablecoins such as Circle (USYC), Paxos (USDG), Tron (USDD) and Ondo Finance (USDY) are surging and driving the market. The U.S. Senate remains divided amid regulatory discussions over yield-bearing stablecoins. Republicans argue the tokens are necessary, while Democrats oppose them, saying they could weaken the traditional financial system.
The split has delayed a vote on a crypto market structure bill until after April. Yield-bearing stablecoins are currently worth $22.7 billion. They account for 7.4 percent of the overall stablecoin market and are expanding quickly. Maple (MPL) Syrup USDC (SUUSDC) offers an annual yield of 4.54 percent and is drawing investor interest.
Chi-gyu Hwang
delight@d-today.co.kr