YieldClub Launches Crypto Savings App with High APY, Secures $2.5M Funding

YieldClub has unveiled a mobile application designed to simplify access to high-yield crypto savings, announcing a $2.5 million pre-seed funding round. The app, which allows users to earn up to 12% Annual Percentage Yield (APY) on stablecoins, aims to bridge the gap between traditional finance and decentralized finance (DeFi) benefits. This initiative comes at a time when consumers are increasingly seeking alternatives to low-interest savings options.

The funding round saw participation from notable fintech and crypto investors, including Pharsalus, Flex Capital, The House Fund, and Superlayer, alongside strategic angel investments from tech leaders. YieldClub's founders, Mahesh Vellanki and Michael Li, bring experience from successful consumer tech companies, focusing on demystifying DeFi for a broader audience through a user-friendly app interface and non-custodial model.

YieldClub leverages audited DeFi protocols like Morpho to generate yield on stablecoins, offering users exposure to higher returns without the volatility of other cryptocurrencies. The platform is particularly relevant in international markets with growing stablecoin adoption. The pre-seed funding will support the app's public launch, expansion of yield-generating options, and team growth, with future plans including a debit card for spending stablecoin balances while earning yield.

Available for preorder on the Apple App Store, YieldClub is set for a full public launch on June 23, 2025, on both Apple and Android devices, marking a significant step towards making DeFi's benefits accessible to a global audience.