CandleFocus Deribit Launches US Yield Coin (USYC) as New Yield-Bearing Cross-Margin Collateral Option
2024-10-11
Author: Content Editor
Deribit, a crypto exchange, has added the US Yield Coin (USYC) from Hashnote as a yield-bearing cross-margin collateral option. USYC is an ERC-20 token backed by repurchase agreements on U.S. Government Securities and offers traders a stable and flexible collateral option that generates daily yield. The assets are held in a segregated account at the Bank of New York Mellon to comply with regulations. Deribit CEO emphasizes that this addition allows users to leverage collateral that generates passive returns while managing risk in derivatives trading. Though USYC is not pegged to the U.S. dollar, its value is expected to remain stable and increase gradually as long as the underlying assets continue to yield returns and maintain stability.
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