Stable, a blockchain built for USDT, has introduced StableEarn. This new feature lets users earn rewards on their USDT holdings, with those rewards backed by assets like Treasuries and gold.
Summary
- Stable launched StableEarn with partners Morpho, Gauntlet, and Theo, offering USDT holders institutional-grade yield backed by Treasuries and real-world assets.
- The product targets USDT’s structural yield gap, as Tether keeps all reserve interest as profit rather than passing any return to token holders.
- Tether’s USDT supply stands at approximately $150 billion across 15 blockchains, the world’s largest stablecoin by circulation, but one that pays zero native yield to holders.
Stable, a blockchain specifically designed for USDT, has introduced StableEarn. This new feature is a secure vault where institutions holding USDT can earn returns linked to investments in US Treasuries and gold.
We built this product with help from several key partners: Morpho provided the lending technology, Gauntlet helped us assess and manage risk, Theo developed the strategy for earning yield, and Utila.io ensured top-level security for digital wallets.
USDT is the most widely used stablecoin globally, but finding good opportunities to earn interest on it has always been difficult. According to Brian Mehler, CEO of Stable, StableEarn solves this problem by connecting USDT with high-quality investment options. He believes StableEarn provides a new and beneficial platform for the world’s largest stablecoin.
We’re excited to introduce StableEarn, a new way to grow your capital on Stable! Morpho, Theo Network, and Gauntlet are partnering to offer a professional-level earning experience, starting with a USDT vault on Morpho.
— Stable (@Stable) May 26, 2026
What StableEarn does and why USDT holders need a yield product
USDT doesn’t offer any rewards directly to those who hold it. Instead, Tether keeps the profits earned from investing the reserves that back USDT – specifically, the difference between the zero interest paid on USDT and the returns from US Treasury bills. This practice allowed Tether to make over $10 billion in profit in 2025.
This difference in how things are set up has increased the need for services that let people earn rewards on their USDT without needing to convert it to other stablecoins.
StableEarn grows your USDT by investing in real-world assets, with risk carefully assessed by Gauntlet. Unlike some other stablecoin options, it earns returns from traditional investments, making it a potentially lower-risk way to generate yield.
As a crypto investor, I was really interested to hear Theo’s CIO, Iggy Ioppe, describe their product. He basically said it’s a solid way to earn yield directly on the blockchain using stablecoins – specifically USDT. What stood out to me is that it’s built for institutions and the returns aren’t just coming from crypto speculation, but from actual, real-world markets, which feels much more sustainable.
As of May 2026, Tether’s USDT stablecoin has a circulating supply of around $150 billion, increasing from approximately $118 billion at the beginning of 2025. Crypto.news has been following the development of stablecoin products that offer interest, alongside the ongoing discussions in Congress about potential regulations for these types of stablecoins, specifically through the GENIUS Act.
Why the timing matters as institutional stablecoin yield demand scales
Stablecoins that earn interest have become increasingly popular, now making up a significant part of the $311 billion stablecoin market. New options, like USDY from Ondo and sUSDS from Sky, are letting funds easily earn returns on their dollar holdings without needing to directly buy and manage short-term government debt.
StableEarn is a new type of savings vault built specifically for USDT on its original network. This means USDT owners no longer need to transfer their tokens to Ethereum or other blockchains to earn similar rewards.
Morpho’s lending technology, which powers StableEarn, is already operating on several blockchains and is a popular choice for DeFi treasuries managing lending activities, becoming a trusted standard for on-chain lending.
Crypto.news recently covered a new proposal from the US Treasury Department. Under the GENIUS Act, stablecoin companies would be regulated like traditional financial institutions. This means services like StableEarn, which offer returns on stablecoins, would need to follow stricter rules to ensure compliance.
By April 2026, the value of tokenized Treasuries is expected to reach $13.4 billion, according to Crypto.news. StableEarn relies on these assets to generate its returns.
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2026-05-26 22:23