Top Yield-Bearing Stablecoins Diversify Crypto Portfolios with DeFi & RWA APY Up to 11%

This unified report reviews and analyzes 20 leading yield-bearing stablecoins that generate passive income through DeFi protocols, derivatives, staking, lending, and real-world asset (RWA) strategies. These stablecoins currently account for about 6% of the $240 billion stablecoin market cap, but JPMorgan forecasts this share could grow to 50% as more traders seek risk-hedged, stable income amid ongoing crypto market volatility. Top projects in the sector include Ethena (USDe/sUSDe with 5%+ APY), Spark (sDAI at 3.25%), Ondo (USDY at 4.25%), BlackRock (BUIDL), and Figure Markets (YLDS at 3.79%), as well as protocols like Sky, Usual, Mountain Protocol, Origin Protocol, Prisma, Level, Davos, Reserve, Angle, Paxos, YieldFi, OpenEden, and Elixir. Yields range widely, from below 1% to over 11%, depending on strategy and risk profile—some require asset staking or lock-up for higher rewards. While many focus on decentralized yield, others leverage regulated traditional assets (notably BUIDL and USDL). Regulatory-compliant stablecoins are emerging, broadening the sector’s appeal. The surge of yield-generating stablecoins highlights deeper integration of DeFi with both on- and off-chain yield models, offering crypto traders compelling, stable income opportunities and tools for portfolio diversification and downside risk management in unpredictable markets.