Axal, a fintech startup backed by Andreessen Horowitz’s CSX fund and CMT Digital, has launched its high-yield stablecoin platform, Axal Yield. The application, now live on iOS, enables users to earn an annual percentage yield (APY) of 6-10% on stablecoins like USDC and USDT.

A key feature of the launch is the integration with MoonPay, which provides virtual bank accounts for users. This partnership simplifies the process of converting fiat currency into stablecoins and deploying them into decentralized finance (DeFi) protocols to generate yield. Axal’s smart yield engine automatically allocates user funds across a curated set of audited DeFi platforms, diversifying risk while optimizing returns.

This launch signals a broader trend of making DeFi more accessible to a mainstream audience. By abstracting away the complexities of interacting with blockchain protocols, Axal aims to provide a user-friendly experience comparable to traditional savings accounts but with significantly higher returns. The platform is also working with other notable names in the crypto space, including Morpho, Gauntlet, and Alchemy, to enhance its offerings.

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