Currency One USD
C1USDC1USD is the world's first fully insured, 1:1 USD over-collateralised stablecoin offering a yield with no lock-up. Earns 7.5% APY paid monthly in C1USD for verified Kinesis account holders.
C1USD is a yield-bearing stablecoin issued under Currency.one with reserves split between US Treasuries and Kinesis-allocated precious metals. The headline 7.5% APY paid to KMS holders on the Kinesis exchange is supported by a combination of T-bill carry (Fed funds-driven, like BUIDL/USDY/OUSG) and the KMS fee-share economics that flow value back to token holders. So C1USD has two distinct return drivers: the front-end UST yield (procyclical with the rate cycle) and the Kinesis transactional volume that funds the metals-side fee share.
C1USD is the only stablecoin wrapper where the yield is meaningfully diversified between USD-curve carry and a precious-metals fee-share component, which gives it structural resilience to a zero-rate or low-rate regime that would compress pure-Treasury yields. CIMA regulation plus Chainlink Proof of Reserves places C1USD operationally above the average DeFi yield wrapper. The current question for any allocator is whether KMS-on-Kinesis gating restricts the holder base enough to cap distribution growth — that gating is the price paid for the 7.5% headline.
- ›Fed funds path (Treasury-side carry mechanics)
- ›Kinesis exchange volumes (KMS fee-share economics)
- ›C1USD circulating supply growth relative to KMS active holders
- ›Chainlink PoR feed updates (frequency, deviation)
- ›CIMA / UK Section 21 regulatory commentary
- ×Sustained drop in Kinesis transactional volume collapsing the fee-share
- ×CIMA regulatory action against the Kinesis exchange
- ×A regulated US-domiciled competitor with comparable headline yield without the KMS gate
Editorial macro context · refreshed each methodology cycle · not investment advice
Price data from CoinGecko. Not financial advice.
Risk assessment is indicative. Conduct thorough due diligence before investing.
Calculations are indicative. Actual yields may vary.