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USDC Holders Can Now Earn Yield on Crypto Options Exchange Deribit
The reward rate for USDC on the exchange is 4% as of July 2025, but rates are subject to change by Coinbase.
Jul 15, 2025, 12:44 p.m.
What to know:
- Deribit has launched a rewards program for USDC holders to enhance collateral choices and capital efficiency.
- The reward rate for USDC is 4% as of July 2025, but rates are subject to change by Coinbase.
- Eligibility for USDC yield depends on user location, and rewards are calculated based on minimum equity held between July 15 and July 31.
Deribit, the world's largest crypto options exchange, has announced a new rewards program for eligible USDC holders to enhance users' collateral choices and boost overall capital efficiency on the platform.
These payments are possible because Deribit leverages Coinbase as a custody solution for USDC and Coinbase, in turn, pays rewards to those holding USDC through them. As of July 2025, the reward rate stands at 4%, though users should note that Coinbase regularly adjusts these rates.
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USDC is the world's second-largest dollar-pegged stablecoin with a market value of $63.83 billion at press time. Deribit accounts for nearly 80% of the global crypto options activity.
The eligibility to receive the USDC yield is determined by the user's location, Deribit said in the official announcement, adding that for institutional users, the place of incorporation and principal place of business are taken into consideration.
Additionally, users must store their USDC directly with Deribit, and now with an external custodian, to earn the yield. In case of a hybrid setup, only the USDC held on Deribit will be considered.
The first rewards will be paid in August 2025, with the amount calculated based on the minimum equity held each day between July 15 and July 31, the exchange said.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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