🇨🇦 Canada · Reviewed: 2026-10-17

USDT Interest Rates in Canada (2026): Where You Can Earn

Canada is a country of short lists. Many of the large offshore exchanges we track — Binance, OKX, Gate — exclude Canadians in their own terms. Nexo left in 2023, and Ledn does not open its Growth Account to Canadians. Of what remains, the highest stablecoin rates come from low-graded venues that are not registered in Canada. Kraken, which is registered here, pays nothing on USDT in Canada and 2% on USDC without a subscription.

Available in Canada

Exchanges available in Canada

Checked against each platform's official restrictions. Rates are flexible, refreshed daily.

7 platforms

Platform	USDT	USDC	Risk
Lune.fi	18 %	18 %	F	Review →
CoinDepo	17 %	17 %	F	Review →
Toobit	3.1 %	2.5 %	C	Review →
Poloniex	2.0 %	3.0 %	C	Review →
KuCoin	1.07 %	0.25 %	D	Review →
Kraken Earn	—	2.0 %	B	Review →
Nebeus	—	4.0 %	D	Review →

Beyond dollars

Other coins: best rates open to residents of Canada

Per coin: the highest base rate and the best one at an A–B graded venue, among venues whose own terms accept residents of Canada. Locked terms are marked.

Coin	Pick	Platform	Base rate	Risk
BTC	Highest rate	Lune.fi	14 %	F
ETH	Highest rate	Lune.fi	14 %	F
	Best at an A–B venue	Coinbase cbETH	2.22 %	B
XRP	Highest rate	CoinDepo	12 %	F
SOL	Highest rate	CoinDepo	12 %	F
	Best at an A–B venue	Marinade	5.4 %	B

💬 Context: money in Canada

Buying and holding crypto is legal in Canada. Platforms that serve Canadians are overseen by the provincial securities regulators, which work together as the Canadian Securities Administrators (CSA). The CSA keeps a list of platforms authorised to do business with Canadians; of the venues we track, Kraken (through Payward Canada), Coinbase and Crypto.com are on it. Under the CSA's rules (Staff Notice 21-332) platforms serving Canadians commit, among other things, not to offer clients margin, credit or other leverage, and not to let them buy or deposit stablecoins without the CSA's prior written consent.

That consent works through issuers. Since April 30, 2024 platforms may not let clients buy or deposit stablecoins that fail the CSA's terms. The CSA's list of issuers that have given it an undertaking names Circle (USDC, December 2024) and QCAD Digital Trust (QCAD, November 2025); Tether is not on it. A federal stablecoin framework, introduced in Bill C-15, will bar issuers from offering interest or yield to holders; the Department of Finance expects it to come into force in 2027.

⚖️ Legal status

This is not legal or tax advice. There is no deposit insurance on a crypto platform. CDIC lists "cryptocurrencies, including stablecoins" among the products it does not cover, and CIPF, which protects clients of investment dealers, excludes crypto assets.

Tax: the CRA says rewards from staking crypto on a centralised exchange "will generally be considered as income" at the time they are credited to your wallet on the platform. Its guide does not separately address interest-style earn products. Canada has also published draft legislation to implement the OECD Crypto-Asset Reporting Framework (CARF), under which platforms will report users' information to the CRA.

Sources: bcsc.bc.ca · asc.ca · securities-administrators.ca · securities-administrators.ca · canada.ca · cdic.ca · cipf.ca · canada.ca · fin.canada.ca · support.kraken.com · support.kraken.com · kucoin.com · okx.com · binance.com · gate.com · nexo.com · help.ledn.io

Getting started

How to start, step by step

Check your province. KuCoin's own terms exclude Ontario and British Columbia: if you live there, KuCoin is closed to you even though it appears in the table.

Do not count on Kraken's 4% on stablecoins. It runs through Opt-In Rewards, which clients in Canada cannot use, so USDT earns nothing here. USDC goes through Stablecoin Rewards — 2% without a subscription, up to 4% with paid Kraken+. Kraken also pays rewards on QCAD, a Canadian-dollar stablecoin, to clients registered in Canada only.

Check whether the venue is registered. The CSA warns that unregistered platforms accessible by Canadians "may not have essential safeguards that help protect investors' assets from loss, theft or misuse." The highest rates in the table come from Lune.fi and CoinDepo: neither is on the CSA's list, and both are low on our safety grade.

Read the base rate, not the shop window. We publish base rates and never promotional tiers: the figure you see here is the one paid with no conditions attached.

Keep your own records: the date, the coin, the amount and its value in Canadian dollars at each payout. The CRA treats staking rewards on an exchange as income when they are credited.

FAQ

Frequently asked questions

Is it legal for Canadians to earn interest on crypto?

Yes, holding crypto is legal. Registration is the platform's duty, not yours: the CSA keeps a list of platforms authorised to do business with Canadians and warns that unregistered ones may lack essential safeguards for your assets. The income is taxable: the CRA counts staking rewards on an exchange as income when they are credited.

Is my crypto CDIC- or CIPF-insured?

No. CDIC does not cover cryptocurrencies, including stablecoins, and CIPF excludes crypto assets from its coverage.

Why are Binance, OKX and Gate not here?

Because their own terms exclude Canada, and the table on this page shows only venues whose terms do not. Nexo announced its exit from Canada in 2023, and Ledn's own list makes its Growth Account unavailable to Canadians.

Can I buy USDT on a Canadian platform?

Not on the platforms that follow the CSA's rules. Since April 30, 2024 they may not let clients buy or deposit stablecoins that fail the CSA's terms, and Tether is not on the CSA's list of issuers that have given it an undertaking (Circle for USDC and QCAD are). The venues in the table that pay on USDT are not registered in Canada.

Other countries

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Not investment advice. Crypto assets are not government-insured; rates float; check the legal and tax status in your jurisdiction.