YieldClub Launches Crypto Savings App with High-Yield Potential, Secures $2.5M in Funding
YieldClub introduces a user-friendly crypto savings app offering up to 12% APY on stablecoins, backed by $2.5M in pre-seed funding, aiming to democratize access to DeFi yields.
YieldClub has announced the launch of its mobile application designed to simplify access to high-yield crypto savings, with the potential to earn up to 12% Annual Percentage Yield (APY) on stablecoins. This development comes as the company secured $2.5 million in pre-seed funding from notable fintech and crypto investors, signaling strong confidence in its mission to bridge the gap between traditional finance and decentralized finance (DeFi).
The app, founded by CEO Mahesh Vellanki and CTO Michael Li, leverages mature, audited DeFi protocols to offer users a secure and intuitive platform for earning higher returns compared to traditional savings accounts. YieldClub's non-custodial model ensures users retain full control over their funds, addressing a common concern in the crypto space.
With the backing of investors like Pharsalus, Flex Capital, and strategic angels from the tech industry, YieldClub is poised for a public launch aimed at making DeFi's benefits accessible to a broader audience. The funding will support the app's development, including the introduction of a debit card for spending stablecoin balances while earning yield and exploring tokenized stock offerings for international users.
YieldClub's entry into the market responds to growing consumer demand for alternatives to low-interest savings options, particularly in international markets where stablecoin adoption is on the rise. The app is available for preorder on the Apple App Store, with a full launch scheduled for June 23, 2025.