Deposit Coin is designed to combine the utility of digital money with the economics of a bank deposit.
Payment stablecoins made dollar-denominated value transferable across digital networks. Deposit Coin is designed to make bank deposits equally transferable, while preserving the characteristics that make deposits attractive to hold.
Participating-bank deposits can earn interest. Under the applicable arrangements, that interest can be passed through to Deposit Coin holders. It is interest generated by the underlying bank deposits, not an exchange reward, lending return or promotional yield.
Digital liquidity need not mean giving up deposit interest.
No rate is implied. Whether and how interest reaches a holder depends on the applicable arrangements.
Each Deposit Coin position represents claims against deposit liabilities at participating banks.
For holders satisfying applicable identification and other requirements, the represented deposits may qualify for pass-through FDIC insurance, subject to applicable requirements and limits.
Deposit ownership and deposit-insurance eligibility are distinct; the underlying claim does not depend on insurance eligibility.
Each Deposit Coin position represents dollar-denominated bank deposit liabilities and is redeemable at par under the applicable arrangements.
The dollar value comes from the deposit itself, not from a portfolio intended to support a peg.
Under US GAAP, qualifying demand deposits are classified as cash.1 A payment stablecoin's classification instead turns on an instrument-specific analysis; stablecoins have been classified as cash equivalents, financial assets, intangible assets or derivatives.2
Deposit Coin is designed to preserve the legal and economic characteristics of bank deposits while making those deposit interests digitally transferable.
The accounting treatment of a particular Deposit Coin holding depends on the holder's rights and applicable accounting requirements.
General structural comparison. Individual stablecoins and arrangements vary; this does not describe any specific product.
Why choose between the economics of a bank deposit and the utility of digital money?
Deposit Coin is designed to deliver both.
1 Financial Accounting Standards Board, Accounting Standards Codification, Master Glossary, “Cash” (as applied in ASC 230, Statement of Cash Flows).
2 Financial Accounting Standards Board, Not-for-Profit Advisory Committee meeting materials, March 19, 2026, discussion of stablecoin accounting and current application in practice (advisory-committee materials; not authoritative GAAP). See also Coinbase Global, Inc., Form 10-K for fiscal year 2025, Note 2, Change in Accounting Principle: Accounting for Payment Stablecoins, describing an instrument-specific determination to present certain payment stablecoins as cash equivalents.