Deribit has announced the launch of Hashnote’s US Yield Coin (USYC) as a new yield-generating cross-collateral option. USYC, an ERC-20 token backed by reverse repurchase agreements for US Government Securities, offers traders a stable and flexible collateral option that generates daily returns.
Assets are secured in a segregated account at the 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 to generate passive returns while still managing risk in derivatives trading.
While USYC is not pegged to the value of the US dollar like most stablecoins, its value is expected to remain relatively stable and increase over time, as long as the underlying assets continue to provide returns and maintain stability.
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