KuCoin launched KCUSD on September 7 as a hold-to-earn product for eligible retail, high-net-worth and institutional users. Customers can subscribe with USDT, USDC or USDG from as little as $1 equivalent, without a subscription fee, and redeem in the same asset. KCUSD offers a dynamic base APR of up to 4%, rising to 6% during the launch period for qualifying new funds. KuCoin said returns are linked to real-world assets, including tokenized U.S. Treasury securities, and are credited daily to users’ balances. The exchange plans to make KCUSD usable as margin collateral, but has not provided a timeline. The product remains exposed to rate, platform, liquidity, redemption and regulatory risks, while KuCoin has not fully detailed custody and verification of the underlying assets.