SIO-6.6 Interest and Reward
SIO-6.6.1
A stablecoin issuer may issue yield bearing approved stablecoins which pay passive returns to its clients only from the interest or rewards (for sharia complaint stablecoins) earned from the investment of the reserve assets.
Added: July 2025SIO-6.6.2
Stablecoin issuers offering a yield bearing approved stablecoin must set the yield rate or reward rate at a level that is reasonable and does not adversely affect the stability of the approved stablecoin as well as the financial health (going concern) of the stablecoin issuer.
Added: July 2025SIO-6.6.3
A stablecoin issuer offering a yield bearing approved stablecoin must on an annual basis provide the CBB with its yield or reward policy as well as an internal assessment report, approved by the board, on the impact of yield or reward payment on the financial health of the stablecoin issuer. The aforementioned assessment report for a financial year must be provided to the CBB no later than 60 days prior to the start of the reference financial year.
Added: July 2025SIO-6.6.4
Stablecoin issuers offering yield bearing approved stablecoins must provide the following details in the stablecoin whitepaper:
(a) the methodology to determine the interest rate or reward;(b) whether the interest rate or reward is linked to any benchmark (an interest rate benchmark), if yes information about the interest rate benchmark;(c) the frequency of calculation of interest or reward as well as the frequency of credit of interest or reward (record date and time); and(d) form in which the interest or reward will be credited (in the form of approved stablecoins or fiat currency).Added: July 2025Disclosure Requirements
SIO-6.6.5
Stablecoin issuers offering a yield bearing approved stablecoin must ensure that clients are able to access its reviewed quarterly financial statements no later than 45 days from the end of each of the first 3 quarters as well as audited annual financial statements no later than 60 days from the end of the stablecoin issuer’s financial year.
Added: July 2025SIO-6.6.6
A stablecoin issuer offering yield bearing approved stablecoin must immediately announce any event with a material effect on the ability of the clients to receive yield.
Added: July 2025SIO-6.6.7
A stablecoin issuer offering yield bearing approved stablecoin must disclose all information considered material. Information would be regarded as material if its omission or misstatement could change or influence the assessment or decision of a client relying on the information for the purpose of making economic decisions.
Added: July 2025SIO-6.6.8
A yield bearing approved stablecoin will be considered a security and the CBB, at its sole discretion, may impose additional requirements on the stablecoin issuer including additional disclosure requirements similar to those applicable to securities post issuance of the yield bearing approved stablecoin.
Added: July 2025SIO-6.6.9
For the purposes of SIO-8, the CBB, while imposing additional requirements on yield bearing approved stablecoins, shall take into consideration various factors related to establishment of a fair and transparent market such as but not limited to investor protection, conflict of interest, impact on financial market and economic growth, and market efficiency and stability
Added: July 2025
