Chiara Munaretto, Managing Partner of Stablecoin Insider, has been tracking the rapid evolution of stablecoin savings products since their earliest iterations. In this guide, she breaks down the most promising platforms turning DeFi yield into a one-click savings experience, from US apps already live on the App Store to the first European entrant targeting a market of 350 million savers stuck at near-zero rates.
The long-term adoption curve of stablecoins will be driven less by crypto-native traders and more by traditional businesses seeking faster settlement and lower counterparty risk. 2026 will be the year for it. – Chiara Munaretto, Co-founder and Managing Partner of Stablecoin Insider
These new consumer finance apps let users deposit fiat currency, automatically convert it to stablecoins behind the scenes, and route it into battle-tested lending protocols to earn 4–10% APY, all without touching a crypto wallet or understanding DeFi mechanics. Multiple platforms have raised pre-seed rounds in the $2–3M range and are onboarding thousands of users in their first months.
Key Takeaways
- Stablecoin yield is now one-click savings: New apps handle fiat conversion, wallet creation, and protocol routing automatically, users just deposit and earn.
- The yield comes from real borrower demand: Returns of 4–10% APY are generated by interest on overcollateralized loans (150–200% collateral), not token rewards or points schemes.
- Most apps share the same proven infrastructure: Morpho, Aave V3, Compound, and Moonwell power nearly every platform, the differentiation is UX, trust, and distribution.
- The US market is shipping fast: Axal, Nook, and YieldClub are live on iOS and Android. Aave App is in waitlist phase.
- Europe is the wide-open opportunity: With 350 million savers earning near-zero rates, unflat is the first platform building a euro-native stablecoin savings experience on Morpho.
Where Does the Yield Come From?
The yield is not speculative. It comes from borrower interest on overcollateralized loans. Borrowers lock up 150–200% of what they borrow as collateral. If they cannot repay, smart contracts liquidate the collateral automatically.
Traditional banks take your deposit, lend it at 5–8%, and pay you 0.1%. DeFi lending protocols remove the middleman: you deposit, someone borrows, and the interest goes directly to you.
The key protocols powering most of these apps include:
- Morpho Protocol: the most common backbone, with $8.5B in peak deposits, 25+ security audits, and $69M raised from a16z, Coinbase Ventures, and Pantera Capital. Used by Coinbase, Crypto.com, and Société Générale.
- Aave V3: the industry standard with $29B+ in TVL across 16 chains, offering 4–7% APY on USDC lending.
- Compound: the pioneer of algorithmic interest rates, delivering 4–6% on major stablecoins.
- Moonwell: a Base-native lending market gaining traction alongside the larger protocols.
Top Stablecoin Savings Apps Compared
1. Axal (US / Global)
Backed by a16z CSX and CMT Digital ($2.5M pre-seed), Axal deploys deposits across Morpho, Euler, Pendle, and Aave through a smart yield engine that automatically rebalances for risk-adjusted returns. It advertises 6–10% APY and supports Apple Pay, bank transfers, and MoonPay for fiat onboarding. Available on iOS and Android.
2. Nook (US)
Built by former Coinbase and Uber engineers, Nook connects to Morpho, Aave, and Moonwell. It automatically rebalances overnight to the highest-earning protocol, with an average APY of 7.6% over the past 12 months. Deposits are available via Apple Pay, Plaid, and Coinbase. Earnings are credited every 16 seconds.
3. YieldClub (US)
Raised $2.5M and built by the founding teams behind Rally and Kabam. YieldClub offers up to 12% APY through Morpho-powered lending with real-time compounding and no lockups. It supports ACH, debit card, and crypto deposits, with a planned debit card for spending stablecoin balances while earning yield.
4. Aave App (Global – Waitlist)
Aave Labs entered the consumer space with an iOS savings product offering up to 9% APY and $1M in protection against security breaches. This represents the protocol going direct-to-consumer, backed by Aave’s $29B+ TVL and extensive audit history.
5. unflat (Europe – Early Access)
unflat is the first platform built specifically for European savers. It routes EUR bank deposits into Morpho Protocol through a multi-vault architecture, delivering 4–7% APY. Each vault represents a different market with isolated smart contracts, meaning a problem in one vault cannot cascade to another.
What sets unflat apart is its euro-native design, on-chain transparency links for every user, and a roadmap toward EURc (Circle’s euro stablecoin) that would eliminate FX conversion entirely. Early adopters receive tiered APY bonuses: +2% for the first 500 users, scaling down as the waitlist fills.
Why Europe Is the Biggest Opportunity
Every major competitor was built for the US market first, ACH transfers, Plaid integrations, USD accounts. Meanwhile, Europe’s 350 million banking customers often earn below 1% on deposits, and in some countries effectively zero.
The yield gap in Europe is wider than in the US, where savers can already access 4–5% through high-yield accounts. As the ECB continues cutting rates, the case for stablecoin savings alternatives grows even stronger.
What to Watch in 2026
The infrastructure layer is proven. The competition now shifts to distribution, trust, and user experience. Several trends will shape the category: declining central bank rates widening the yield gap, euro stablecoin maturity enabling native EUR savings products, and geographic expansion into underserved markets across Europe, Latin America, and Southeast Asia.
The platforms that lead with transparency, explaining where yield comes from and what risks exist, will build the most durable brands. Stablecoin yield is no longer a DeFi-native story. It is becoming a consumer finance story, and the race to deliver it at scale has just begun.
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