Deribit Launches US Yield Coin (USYC) as New Yield-Bearing Cross-Margin Collateral Option

Deribit has announced the launch of the US Yield Coin (USYC) from Hashnote as a new yield-bearing cross-margin collateral option. USYC, an ERC-20 token backed by reverse repurchase agreements on U.S. Government Securities, provides traders with a stable and flexible collateral option that generates daily yield. The assets are secured in a segregated account at Bank of New York Mellon, ensuring compliance with CFTC and CIMA regulations. Deribit CEO Luuk Strijers emphasized that this addition allows users to leverage collateral that offers passive returns while managing risk in derivatives trading. Although USYC is not pegged to the value of the U.S. dollar like most stablecoins, its value is expected to remain relatively stable and increase gradually over time, as long as the underlying assets continue to yield returns and maintain stability.