Serrari Stablecoin Yield Index — Compare DeFi & CeFi Yields in KES & USD

Stablecoin Yield Index

Prices, market size, and yields (USD & KES)
Stablecoin yields are not guaranteed. Platforms may fail, tokens may depeg, and loss of principal is possible.
Updated: 24 Feb 2026

What are stablecoins?

Stablecoins are cryptocurrencies designed to stay near $1.00.
Yield is earned by lending them on platforms.
Risk is higher than banks (no deposit insurance).
This page tracks prices, market size, issuers, and yield ranges.

Total Market Cap i
$311B
USD/KES i
KES 129.50
USDT Share i
60.4%
Largest stablecoin
Best CeFi Yield i
16.0%
Nexo · USDT
Best DeFi Yield i
14.5%
Pendle · USDC (fixed maturity)
Typical Lower-Yield Range i
4–7%
Aave · Compound
Stablecoin Prices
All near $1.00 · sorted by size
#StablecoinPricePegMarket CapTypeReserves

Stablecoin Market Share

Who dominates the stablecoin market

Yield by Platform

Base vs max — higher usually means more risk
Where Yield Comes From
Higher yield usually means higher risk · Feb 2026

Platform Rates

PlatformTypeUSDTUSDCDAILock-upRiskNotes
How It Works

CeFi (Company holds funds) i

A company holds your funds and pays yield.
Requires KYC. You take company risk.

1,000 USDT at ~9% → ~90 USDT/year

DeFi (Smart contracts) i

You lend via smart contracts using your wallet.
No company custody — but smart-contract risk.

1,000 USDC at ~5% → ~50 USDC/year

Yield vs risk i

Higher yields often require lock-ups, platform tokens, or higher-risk products. Established platforms often sit around 4–8%.

16% offers often require lock-up + platform tokens.

Key risks i

Platform failure, hacks, or loss of peg.
No deposit insurance. Loss can be total.

Rule: diversify and size positions conservatively.

Stablecoins vs Kenya MMFs i

MMFs earn in KES and are CMA-regulated. Stablecoin yields are in USD, unregulated, and carry higher risk including total loss.
If KES weakens, USD returns convert into more KES.
If KES strengthens, the opposite happens.

Returns depend on both yield and exchange-rate movements.

APR vs APY i

APR = simple interest.
APY = includes compounding.
Always check which one a platform shows.

10% APR with daily compounding ≈ 10.5% APY.
🇰🇪 How to Get Started from Kenya

Step-by-Step Access Guide

STEP 1

Choose a Platform

Binance P2P (most liquidity), Luno (simplest), or Yellow Card (Africa-focused). All support M-Pesa.

STEP 2

Complete KYC

Upload Kenyan ID or passport. Verification time varies.

STEP 3

Buy USDT or USDC

Use M-Pesa via P2P. Spreads vary. Start small to test.

STEP 4

Earn Yield

Keep on exchange for CeFi yield, or transfer to MetaMask and deposit on Aave for DeFi yield.

STEP 5

Withdraw to M-Pesa

Sell via P2P → KES to M-Pesa. Timing varies. P2P uses escrow.

TAX NOTE

Keep Records

Digital asset transactions in Kenya are subject to a 1.5% Digital Asset Tax under the Finance Act 2023. Keep records and get professional advice if unsure.

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Common Questions
What is a stablecoin?
A cryptocurrency designed to stay near $1.00. Unlike Bitcoin, price volatility is lower. USDT and USDC are the largest—often backed by cash and short-term US assets (varies by issuer).
Why are yields higher than bank savings?
Because borrowers pay more and the risks are higher. No deposit insurance.
Which stablecoin should I start with?
Each stablecoin has different risk profiles. Research issuer attestations, regulatory status, and liquidity before choosing. This is not a recommendation.
Can stablecoins lose their peg?
Yes. Peg breaks can happen—especially in crises. Some recover, some don't.
Is this legal in Kenya?
Kenya now has legislation governing Virtual Asset Service Providers; regulation continues to develop. Check current guidance and comply with tax rules.
Disclaimer: Informational only—not financial, investment, or tax advice. Crypto carries significant risk, including total loss. Yields are not guaranteed. Data may be delayed. Not affiliated with listed platforms.
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