This is the closest thing to "investing in a stablecoin": your dollars stay dollars, and a platform or protocol pays you a rate. Rates follow short-term interest rates, so compare every option with a Treasury bill.
Guide
How to Invest in Stablecoins
A stablecoin is always worth about $1, so you cannot invest in it for price gains. You can earn yield on it, or invest in the companies that profit from it. Here are the five real options, with names, tickers and current rates.
Updated October 28, 2026 · Not investment advice
Short answer
To earn on stablecoins, hold USDC or PYUSD on a regulated platform that pays rewards (about 3.75% to 4% in October 2026). To bet on stablecoin growth, buy shares in companies that profit from it: Circle (CRCL) is the pure play, Coinbase (COIN) shares its income, and Shopify (SHOP), Visa (V) and Mastercard (MA) co-own the new Open USD stablecoin. Stripe and its Tempo blockchain are private.
| # | Way to invest | Examples | What you earn | Risk |
|---|---|---|---|---|
| 01 | Hold stablecoins and earn yield | USDC on Coinbase, PYUSD on PayPal, sUSDe, tokenized T-bills | About 3.5% to 5% a year | Low to medium |
| 02 | Buy stablecoin stocks | Circle (CRCL), Coinbase (COIN), Shopify (SHOP), Visa, Mastercard | Share price and earnings growth | Medium to high |
| 03 | Buy a thematic ETF | STBQ, NODE, LEGR, BITQ | A basket of related stocks | Medium to high |
| 04 | Buy protocol tokens | ENA (Ethena), SKY (Sky) | Token price, buybacks | Very high |
| 05 | Private companies | Stripe, Tempo, Tether, Paxos | Only via private markets or a future IPO | High, illiquid |
Option 1
Earn yield on stablecoins
| Option | Rate (Oct 2026) | Who can use it | Note |
|---|---|---|---|
| PayPal PYUSD rewards | 4.00% | Eligible PayPal users (not UK or Singapore); opt in, min 1 PYUSD | Paid by PayPal, variable |
| Coinbase USDC rewards | 3.75% | U.S. users need Coinbase One (from $4.99/month) | Headline rate on Coinbase's USDC page; can vary by plan and region. Nothing for non-members in the U.S. |
| Kraken USDC rewards | Up to 2%, up to 4% with Kraken+ | U.S., Canada, UK, Australia | Kraken+ costs $4.99/month |
| Ethena sUSDe | ~5% | On-chain, via a wallet | Synthetic dollar, higher risk |
| Tokenized T-bills (USDY, BUIDL) | ~3.5% to 3.8% | USDY: non-U.S. investors; BUIDL: institutions | Backed by short-term Treasuries |
| DeFi lending (Aave, Compound, Morpho) | ~3.9% to 4.7% | Anyone with a self-custody wallet | Smart-contract risk, variable |
| Benchmark: 3-month Treasury bill | ~4.05% | Any brokerage account, or a T-bill ETF | No crypto risk at all |
The honest takeaway: if you are in the U.S. and only want yield, a T-bill pays about the same as stablecoin rewards without crypto risk. Stablecoin yield is worth it when you also want what stablecoins do better: instant transfers, 24/7 access, or spending with a stablecoin card. Higher on-chain rates are payment for extra risk; see live rates and risks in our stablecoin yield guide. Platform rewards could also be restricted if the CLARITY Act passes in its current form.
Option 2
Buy stablecoin stocks
If you think stablecoins will keep growing, the companies that earn from them are the way to own that growth. Exposure ranges from direct (Circle) to a small slice of a much larger business (Visa).
| Company | Ticker | Stablecoin angle |
|---|---|---|
| Circle | CRCL | Issues USDC. The only pure play: revenue is mostly interest on USDC reserves, so it rises with USDC supply and falls with interest rates. |
| Coinbase | COIN | Earns a large share of USDC reserve income, runs the Base network, and is an Open USD founding partner. |
| Shopify | SHOP | Accepts USDC at checkout since 2025, co-owns Open USD with Stripe, Visa, Mastercard and Coinbase, and is a design partner of Stripe's Tempo blockchain. |
| Visa | V | Settles in stablecoins, runs a validator on Tempo, and is an Open USD founding partner. |
| Mastercard | MA | Owns stablecoin infrastructure firm BVNK (acquisition closed August 2026) and is an Open USD founding partner. |
| PayPal | PYPL | Brand behind PYUSD (about $3B), now in 70 markets. |
| Robinhood | HOOD | Owns Bitstamp and partnered with Ripple to use RLUSD across its businesses (October 2026). |
| BitGo | BTGO | Its trust bank issues and holds reserves for World Liberty Financial's USD1. Listed January 2026. |
| SoFi | SOFI | SoFi Bank issues SoFiUSD to its members. |
| Securitize | SECZ | Tokenization platform that runs BlackRock's BUIDL fund. Listed on the NYSE in July 2026. |
Circle closed at $81.58 on October 27, 2026, up from its $31 IPO price in June 2025 but well below its 52-week high of $147.44, and reports third-quarter results on November 4. Its biggest sensitivity is interest rates: in the second quarter of 2026, USDC supply grew 19% year on year while revenue grew only 7%. Full breakdown in our stablecoin stocks guide.
What about Stripe, Tempo and Open USD?
Stripe owns Bridge, which issues the Open USD stablecoin, and co-incubated the Tempo payments blockchain with Paradigm. Both are private: Stripe was valued at $159 billion in a February 2026 tender offer with no IPO planned, and Tempo at $5 billion in October 2025. Open Standard, the company behind Open USD, is owned by its five founding partners. Of those, Shopify, Visa, Mastercard and Coinbase are listed, which makes them the public-market route into this ecosystem.
Option 3
Stablecoin ETFs and indexes
No ETF holds USDC or USDT. The funds below hold companies and crypto products linked to stablecoins. Sizes and fees as of October 23, 2026.
| Ticker | Fund | Fee | Assets | What you get |
|---|---|---|---|---|
| STBQ | Amplify Stablecoin Technology Leaders ETF | 0.69% | ~$2M | The only fund built around stablecoins; tracks the MarketVector Stablecoin Technology Leaders Index. Very small, so check trading spreads. |
| NODE | VanEck Onchain Economy ETF | 0.67% | ~$53M | Broad crypto economy: bitcoin ETF, miners, Circle, Coinbase, Figure, Robinhood. |
| LEGR | First Trust Indxx Innovative Transaction & Process ETF | 0.65% | ~$127M | Blockchain adopters, mostly large caps; diluted stablecoin exposure. |
| BITQ | Bitwise Crypto Industry Innovators ETF | 0.85% | ~$367M | Crypto-native equities including Coinbase and Circle. |
Bitwise also launched a Stablecoin and Tokenization model portfolio on September 30, 2026 (Circle, Coinbase, Robinhood, Figure, Securitize and crypto ETFs), which advisers can replicate but is not a fund. The ProShares GENIUS Money Market ETF (IQMM) holds Treasuries for stablecoin issuers; it pays a T-bill rate and is not stablecoin exposure. Because these funds are small and concentrated, buying two or three of the stocks directly is often cheaper.
Protocol tokens and private companies
Some stablecoin protocols have tradable tokens. ENA, Ethena's governance token, could receive buybacks from protocol revenue once USDe supply passes $7.5 billion (it was about $4.8 billion in October 2026). SKY is the token of Sky, the issuer of USDS. These tokens are volatile and can lose most of their value; treat them as speculation, not as stablecoin exposure.
The biggest issuer, Tether, is private, as are Paxos and Stripe. Watch for IPOs instead: RedotPay, the largest stablecoin card program, is reportedly preparing a confidential U.S. filing (our coverage), and Kraken has filed confidentially.
How to buy stablecoins, step by step
- Pick a regulated app: Coinbase or Kraken for USDC, PayPal or Venmo for PYUSD.
- Fund it with a bank transfer and buy the stablecoin. Converting USD to USDC on Coinbase, or USD to PYUSD on PayPal, is free.
- Opt in to rewards if you are eligible (Coinbase One for USDC in the U.S.).
- Optional: withdraw to a self-custody wallet to use DeFi lending, checking the network before you send.
- Keep records of purchases and rewards; rewards are generally taxed as income.
Before you commit
- Stick to large, fully reserved coins with monthly attestations: USDC, PYUSD, USDT. Compare all of them in the list of stablecoins.
- Stablecoins are not bank deposits and are not FDIC insured. The GENIUS Act adds reserve rules from January 18, 2027.
- Treat any yield far above the T-bill rate as a risk signal.
- Size stocks and tokens as risk assets; Circle traded between $49.90 and $147.44 in the past year.
FAQ
Investing in stablecoins, answered
How do you invest in stablecoins?
A stablecoin stays at $1, so you cannot profit from its price. As of October 28, 2026, there are five ways to get exposure: hold stablecoins and earn yield (about 3.5% to 5%, for example 4% on PYUSD in PayPal or 3.75% on USDC with Coinbase One); buy stocks of companies that profit from stablecoins, such as Circle (CRCL), Coinbase (COIN) or Shopify (SHOP); buy a thematic ETF such as STBQ; buy protocol tokens such as ENA (very high risk); or invest in private companies like Stripe through private markets.
What is the best stablecoin stock to buy?
We do not give investment advice. Circle (CRCL) is the purest play because it issues USDC and earns interest on its reserves, but that also makes it sensitive to interest rates. Coinbase (COIN) shares in USDC income with a more diversified business. Shopify (SHOP), Visa (V) and Mastercard (MA) give smaller, more indirect exposure through Open USD and stablecoin payments.
Is there a stablecoin ETF?
No ETF holds USDC or USDT directly. The Amplify Stablecoin Technology Leaders ETF (STBQ) holds stablecoin-related companies and crypto ETFs, and broader funds such as VanEck's NODE and Bitwise's BITQ include Circle and Coinbase. The ProShares GENIUS Money Market ETF (IQMM) holds Treasuries for stablecoin issuers and is not stablecoin exposure.
Can I invest in Stripe or Tempo?
Not on the public market. Stripe is private (valued at $159 billion in a February 2026 tender offer) and has no imminent IPO plans. Tempo, the payments blockchain incubated by Stripe and Paradigm, is also private and was valued at $5 billion in its October 2025 Series A. The listed way to get exposure to the same ecosystem is through partners such as Shopify and Visa, which co-own Open USD with Stripe.
How much interest can you earn on stablecoins?
As of October 2026, mainstream options pay about 3.5% to 4%: PayPal pays 4% on PYUSD and Coinbase pays 3.75% on USDC to Coinbase One members. On-chain options pay around 4% to 5%, with more risk. For comparison, a 3-month U.S. Treasury bill yields about 4.05%.
Are stablecoins a good investment?
Stablecoins are a place to hold dollars, not a growth investment. Their return is the yield you earn on them, which tracks short-term interest rates. If you only want that yield and live in the U.S., a Treasury bill or T-bill ETF pays a similar rate without crypto risk. Stablecoins make more sense if you also want to spend, send or use dollars on-chain.
How do I buy stablecoins?
The simplest route is a regulated app you may already use: buy USDC on Coinbase or Kraken, or PYUSD in PayPal or Venmo, with a bank transfer. You can keep them on the platform to earn rewards, or withdraw to a self-custody wallet to use DeFi.
Sources: PayPal PYUSD page; Coinbase USDC rewards page and help center; Federal Reserve H.15 (October 26, 2026); Ethena governance update (Q3 2026); ETFIQ fund data (October 23, 2026); Bitwise; stockanalysis.com (CRCL); Reuters and Bloomberg on Stripe's valuation; CoinDesk on Open USD; Securitize and BitGo listing announcements. Rates change often. This page is for information only and is not investment advice.
Go deeper before you invest.
Compare listed stablecoin companies, live yield rates, and the regulation that will shape both.
