Interest-rate changes primarily affect the income stablecoin issuers earn on reserve assets—not automatically the number of tokens in circulation or their stated redemption value. When rates rise, cash and short-term assets can earn more as they mature or reset; when rates fall, income tends to decline as assets roll over. The effect depends on how quickly the portfolio turns over, its size and composition, costs, and agreements that share income with distributors.
How rate changes affect reserve income
A reserve-backed stablecoin issuer holds assets intended to back tokens and earns income from those assets. A policy-rate change does not instantly reset the yield on every holding. Existing fixed-rate instruments retain their terms until maturity; cash and instruments with rates that reset more frequently may respond sooner.
- When rates rise: assets that mature or reset can be reinvested at higher yields, increasing income over time.
- When rates fall: maturing or resetting assets generally earn less when reinvested, so income can decline over time.
- When token supply changes: the amount of reserve assets earning income may also change. Circle says the quantity of USDC in circulation is “inherently difficult to predict,” so a rate change alone cannot forecast total reserve income.
These are effects on issuer economics, not a promise that token holders receive interest. Whether a holder earns anything depends on the terms of the particular product or platform.
Reserve income is not the same as issuer profit
Gross income from reserve assets is only one part of the issuer’s economics. Fees for managing reserves, operating costs, and payments to distribution partners can reduce the amount retained. Circle’s 2025 Form 10-K describes reserve income, net reserve income after fees and expenses, and distribution costs that include payments under its Coinbase agreement.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
#1 Best Overall
- Read Before You Buy — No Video Output: These adapters support charging and USB 2.0 data transfer, but cannot transmit video signals. Except for standard USB webcams (which use USB data only), they are not compatible with HDMI/DisplayPort cables, video-capable USB-C hubs, or docking stations with video output.
- Convert USB-A Ports to USB-C: Designed to connect USB-C earphones, cables, flash drives, card readers, and other USB-C accessories to standard USB-A ports. Plug-and-play with no drivers or software required.
- Aluminum Alloy Housing: Built with a sturdy aluminum alloy shell that aids in heat dissipation and protects against daily wear and scratches. Designed to maintain a stable and secure connection.
- Compact & Travel-Friendly: The ultra-compact design allows the adapter to stay plugged into your device without blocking adjacent ports or adding bulk, reducing wear and tear on your original USB ports.
- 12-Month Warranty: Backed by a 12-month manufacturer warranty for peace of mind. Designed to meet strict quality control standards for reliable everyday performance.
Circle reported that income from managing Circle stablecoin-related reserves represented 96.0% of its total revenue from continuing operations in 2025, compared with 99.1% in 2024 and 98.6% in 2023. These are Circle-specific historical figures, not industry averages or forecasts. Circle’s 2025 Form 10-K also reported that about 88% of USDC reserves were in the Circle Reserve Fund on December 31, 2025; the remaining portion, typically 10–20%, was held as cash in accounts for USDC holders. Those allocations describe that date, not a current allocation guarantee.
Rates can also change the market value of reserve assets
Income and market value are separate effects. When market yields rise, existing fixed-rate securities can become less valuable relative to newly issued securities with higher yields. When yields fall, existing fixed-rate securities can become more valuable. A portfolio of cash, overnight repos, and short-maturity government securities generally has less exposure to this interest-rate sensitivity than a portfolio of longer-dated fixed-rate bonds, but short maturities do not eliminate liquidity, counterparty, operational, or confidence risks.
Rank #2
- 5-in-1 USB-C Hub: Experience comprehensive connectivity featuring a Power Delivery input, two USB-A 2.0 ports, a USB-A 3.0 port, and an HDMI port. (Note: The USB-C power delivery input port is only for connecting an external wall charger to power your laptop and cannot power peripheral devices.)
- 90W Pass-Through Charging: Achieve optimal charging with 90W pass-through power to your laptop, supported by a total input of 100W, with the hub reserving 10W for operational efficiency. (Note: Wall charger not included.)
- Quick Data Transfers: Accelerate your productivity with rapid data transfers using a high-speed 5Gbps USB 3.0 port and two 480Mbps USB 2.0 ports.
- 4K HDMI Display: Enhance your visual experience with a hub capable of delivering 4K resolution at 30Hz in both mirror and extend modes. Please note that this hub is compatible with MacBook (macOS 12 and newer), Windows 10 and 11, ChromeOS, and laptops equipped with DP Alt Mode and Power Delivery. Note: This device is not compatible with Linux.
- What You Get: Anker USB-C Hub (5-in-1, 4K HDMI), welcome guide, 18-month warranty, and our friendly customer service.
Circle’s 2025 filing says its USDC reserve standard permits U.S. Treasury securities with no more than three months remaining to maturity, cash deposits, overnight tri-party reverse repos backed by Treasuries, and government money-market funds. This describes Circle’s stated policy; reserve rules and portfolios differ by issuer.
Why rate changes do not, by themselves, determine the peg
A change in reserve income does not mechanically change a token’s stated redemption value. Nor does a short-term asset portfolio guarantee that every holder can redeem immediately under every circumstance. The ability to maintain a peg and meet redemptions depends on the assets backing the token, their liquidity, the issuer’s redemption arrangements and banking access, the volume and timing of redemption requests, and market confidence.
Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsRank #3
- Sleek 7-in-1 USB-C Hub: Features an HDMI port, two USB-A 3.0 ports, and a USB-C data port, each providing 5Gbps transfer speeds. It also includes a USB-C PD input port for charging up to 100W and dual SD and TF card slots, all in a compact design.
- Flawless 4K@60Hz Video with HDMI: Delivers exceptional clarity and smoothness with its 4K@60Hz HDMI port, making it ideal for high-definition presentations and entertainment. (Note: Only the HDMI port supports video projection; the USB-C port is for data transfer only.)
- Double Up on Efficiency: The two USB-A 3.0 ports and a USB-C port support a fast 5Gbps data rate, significantly boosting your transfer speeds and improving productivity.
- Fast and Reliable 85W Charging: Offers high-capacity, speedy charging for laptops up to 85W, so you spend less time tethered to an outlet and more time being productive.
- What You Get: Anker USB-C Hub (7-in-1), welcome guide, 18-month warranty, and our friendly customer service.
Banking conditions form another channel. The Federal Reserve notes that stablecoin-related flows can change the composition and distribution of bank deposits, potentially creating funding concentration or liquidity pressures even if aggregate deposits remain similar. It also describes interest-rate adjustment as one possible response by banks competing for deposits. That observation concerns how banks may respond to deposit competition; it is not a direct policy for how stablecoin issuers set reserve yields. The Federal Reserve’s note on banks and stablecoins discusses these funding channels.
What Circle’s disclosures say—and what they do not
Circle’s live transparency page, which displayed reserve composition dated October 5, 2026 when reviewed, lists categories including bank deposits, overnight reverse Treasury repo, and Treasuries with less than three months to maturity. Circle says USDC holdings are disclosed weekly and receive monthly third-party assurance. Its page states: “USDC is always redeemable 1:1 for US dollars, and EURC is always redeemable 1:1 for euros. Always.” That is Circle’s representation; readers should also check the applicable redemption terms and whether they can access direct redemption. The displayed categories and date are Circle-specific and may change. Circle Transparency & Stability.
Rank #4
- Dual Converters, Infinite Potential：Includes 2× USB C male to USB A female adapters and 2× USB A male to USB C female adapters. Perfect for a wide range of uses—tablets with Bluetooth keyboards, expand USB ports on macbook, and more. Two different converters for all your daily needs
- Next-Level 10Gbps & 3A Charging: No more slow 480Mbps, this usb to usb c adapter has a transfer speed of up to 10Gbps, allowing you to do more transferring in less time. This usb adapter fits both USB A and USB C charger, supporting up to 3A fast charging
- Upgraded Exquisite Craftsmanship: With an aluminum alloy housing and metal connector, the usbc to usb adapter is extremely durable and sturdy. Rigorously tested to withstand more than 10,000 times of plugging and unplugging, ensuring long-lasting performance
- Broad Compatible: The usb c to usb adapter widely supports all USB C/ USB A devices like laptops, tablets, cellphones, car chargers, and phone chargers. Such as compatible with MacBook Pro/Air 2023/2022, Thunderbolt 4/3 Devices,Apple MagSafe Watch 9/8/7/SE/Ultra, iPad Pro 2022/2021, Samsung Galaxy S23/S20/S10, and iPhone 17/16/15 Pro. Plug and play
- Please Note: To reach 10Gbps speed, keep the cable under 3.3 ft. For USB A Male to USB C adapters, try flipping the USB C connector. USB C Male to USB A adapters support bidirectional 10Gbps transfer within 3.3 ft
There is no harmonized, current sensitivity table in the cited material showing how every major issuer’s income would change under the same hypothetical rate move. Circle’s filings and disclosures explain its own reserves; they should not be treated as a universal description of stablecoins. The IMF’s reserve comparisons are dated to 2025 and likewise should not be read as current allocations. The IMF paper Understanding Stablecoins provides broader background.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to compare stablecoin reserve risk
To assess how a particular stablecoin may respond to rate changes—and whether its reserves can support redemption—check the following in the issuer’s current disclosures:
Best Value
- 5-in-1 Connectivity: Equipped with a 4K HDMI port, a 5 Gbps USB-C data port, two 5 Gbps USB-A ports, and a USB C 100W PD-IN port. Note: The USB C 100W PD-IN port supports only charging and does not support data transfer devices such as headphones or speakers.
- Powerful Pass-Through Charging: Supports up to 85W pass-through charging so you can power up your laptop while you use the hub. Note: Pass-through charging requires a charger (not included). Note: To achieve full power for iPad, we recommend using a 45W wall charger.
- Transfer Files in Seconds: Move files to and from your laptop at speeds of up to 5 Gbps via the USB-C and USB-A data ports. Note: The USB C 5Gbps Data port does not support video output.
- HD Display: Connect to the HDMI port to stream or mirror content to an external monitor in resolutions of up to 4K@30Hz. Note: The USB-C ports do not support video output.
- What You Get: Anker 332 USB-C Hub (5-in-1), welcome guide, our worry-free 18-month warranty, and friendly customer service.
- Composition and maturity: identify cash, bank deposits, Treasury bills, repos, money-market funds, and any less-liquid or riskier holdings. Check the disclosure date and maturity limits.
- Disclosure and assurance: note how often holdings are published, whether information is issuer-reported or independently assured, and what the assurance covers.
- Redemption access: find out who can redeem directly, under what terms and timing, and whether access depends on a bank, exchange, or other platform.
- Income sharing: look for payments or revenue-sharing arrangements with exchanges and distributors. These affect issuer net economics but do not establish that token holders receive reserve income.
- Jurisdiction and rules: consider the regulatory framework governing eligible assets, disclosure, redemption obligations, and supervision. Requirements for one issuer may not apply to another.
Circle’s historical explanation of its reserve structure provides additional issuer-specific context, but its practices should not be assumed to describe other stablecoins. Circle’s explanation of how the USDC reserve is structured and managed.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
