Opportunities for earning yield on stablecoins and liquidity are constantly changing. In my research, I found and compared 5 new solutions, evaluating their returns and risk profiles:

1. OKX: Promotion offering up to 8% APR on deposits made by October 8th
By depositing USDT and converting it to USDC for free on the platform, you earn an 8% yield for one year. The bonus is paid out bi-weekly and is available to existing users as well. You can also combine these funds with the platform's standard "Earn" products to further maximize returns.
Funds are not locked; manual opt-in is required before making the deposit.
Risks are associated with the exchange itself, though partially mitigated by the account protection and insurance measures introduced by the platform.

2. Bitpanda: 7% APR on USDC and EURCV with weekly payouts and compound interest.
You simply need to hold USDC or EURCV (issued by the French group Société Générale) on the platform and allocate them to the staking/earn feature.
Funds are not locked and can be withdrawn at any time.
Here too, the risks are related to the platform as a counterparty.

3. Ether.fi (DeFi Pools & RWA)
Variable yield, but averaging over 5% on Euros and 6.2% on Dollars.
No, it’s not quite what you might think—let me explain.
You deposit fiat currency, and the infrastructure automatically converts it into stablecoins or tokenized RWAs (such as EURC, EURe, USDC, or tokens representing short-term government bonds). The APY offered is not paid by a central bank but rather through DeFi lending protocols (such as Morpho, Euler, or Aave) or RWA-based solutions (where liquidity is invested in tokenized US government securities—specifically short-term Treasury Bills—passing the coupon yield on to the user).
As one might expect, the risks are linked to smart contracts—such as bugs and exploits—as well as yield volatility driven by market supply and demand.

4. Scalable Capital
2.6% gross interest on uninvested cash for those who prefer not to gain exposure to the crypto world.
Funds are not locked up, and there are no limits on the balance held.
Risks are significantly lower, as deposits are protected by European banking protection schemes (up to €100,000 per partner institution).

5. Trade Republic
Offers 2.5% gross annual interest, subject to the same conditions as Scalable Capital.

On one hand, CeFi solutions and targeted promotions—such as those from OKX or Bitpanda—offer very high rates, backed by the additional assurance of European regulatory compliance and asset segregation. On the other hand, the DeFi ecosystem—complemented by platforms like Ether.fi—leverages on-chain transparency and the potential of RWAs; this eliminates custody risk but introduces technological risks associated with smart contracts. Meanwhile, those who prioritize the peace of mind associated with traditional banking will find safe havens in services like Scalable Capital and Trade Republic, albeit with inherently more modest yields.

The key, as always, lies in diversification: balancing liquidity across protected deposit accounts, regulated exchanges, and decentralized protocols allows you to optimize passive cash flow while minimizing exposure to any single point of failure.

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Trade Republic: Invest in ETFs, crypto and stocks with zero-fee savings plans. You also get a 1% Saveback on all card purchases and earn 2,50% interest on your uninvested cash.
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Cointiply: Earn free crypto daily through simple tasks, surveys and faucets.
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