Stablecoins With Yield Surge as US Lawmakers Clash

TLDR Yield-bearing stablecoins grew 15 times faster than the broader stablecoin market over six months. Circle’s USYC and Paxos’ USDG led gains with market cap increases of 198% and 169%. The total value of yield-bearing stablecoins reached $22.7 billion after an 11% monthly rise. Maple’s Syrup USDC offered the highest weekly yield at 4.54% APY, according to Messari. US lawmakers remain divided as the Senate delays action on the crypto market structure bill. Yield-bearing stablecoins expanded rapidly over the past six months, according to Messari. The research firm reported that these tokens grew 15 times faster than the broader stablecoin market. However, US lawmakers remain divided over how federal law should treat crypto-linked yield. Messari published its findings on Thursday and outlined sharp market cap increases across major tokens. The report showed that yield-bearing products attracted rising demand while the overall stablecoin market grew modestly. Meanwhile, lawmakers continue to debate provisions in pending digital asset legislation. USYC and USDG Lead Growth in Stablecoins Segment Circle’s USYC recorded a 198% increase in market capitalization over six months. Paxos’ Global Dollar (USDG) posted a 169% rise during the same period. Messari stated that these gains far outpaced the 9% growth in the broader stablecoin market. The firm said the largest yield-bearing stablecoins now function like money market funds or bank deposits. “The winners don’t do payments,” Messari wrote in the report. It added that leading issuers focus on single-asset exposure rather than payment use cases. Yield-bearing stablecoins began outpacing overall supply growth in mid-October 2025. The trend pointed to a stronger demand for blockchain-based dollar products offering yield. Stablewatch data showed the sector reached $22.7 billion after an 11% rise in 30 days. That figure doubled the $11 billion recorded in May 2025. Still, yield-bearing tokens account for 7.4% of the $303 b...