Cryptocurrency platforms offer yield incentives on stablecoins, including PayPal at 4% on PYUSD, Coinbase One at 3.75% on USDC, and Kraken+ at up to 4.5% on USDG

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Licensing, custody, and market-conduct rules for platforms where people trade digital assets, shaped by collapses like FTX and jurisdictional disputes between regulators.