Stablecoins are $300B+ but most of that capital is still just sitting or looping in DeFi.

The missing piece has always been real credit demand.

KUSD is interesting because it flips the model: yield comes from actual borrowers (trade finance, payments), not token incentives.

Instead of farming, you’re financing real activity. Instead of emissions, you get cash flow.

This is where stablecoins start becoming financial infrastructure, not just liquidity.

If this works, DeFi yield finally gets anchored in the real economy.
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