What Saturn does

Saturn is a DeFi protocol building on Bitcoin-backed digital credit, founded in 2025-2026 and headquartered in Philadelphia with legal operations split between Prism Research, Inc. (US) and Saturn Holdings Ltd. (British Virgin Islands). It issues USDat, a non-yielding stablecoin backed 100% by tokenized U.S. Treasuries and stablecoins, and sUSDat, a yield-bearing staked version backed by Strategy's STRC perpetual preferred stock whose dividend accrual drives price appreciation. The protocol distributes USDat and sUSDat across Ethereum and BNB Chain using Chainlink CCIP for cross-chain interoperability.

Saturn's core technology centers on tokenizing exposure to STRC (Strategy's "Stretch" product), a perpetual preferred instrument backed by Bitcoin on Strategy's balance sheet, and packaging it as a stablecoin and yield-bearing stablecoin pair. The protocol integrates with Curve, Pancakeswap, Pendle, Morpho, Strata, and Flowdesk to provide liquidity, yield tokenization, lending, and synthetic tranche strategies. Users are rewarded with Gravity Points, a non-transferable promotional loyalty mechanism (10% to referrers, 5% bonus to referees), and Saturn maintains a community-led marketing presence via Saturn Labs Substack.

Saturn operates as a self-serve, product-led DeFi application with no explicit user fees; the company does not appear to generate direct revenue and instead captures value through ecosystem positioning around the STRC digital credit market (stated at $8.5B market cap, $100M+ average daily volume). Saturn has raised approximately $2.8M across a January 2026 seed ($800K from YZi Labs, Sora Ventures, and crypto angels) and a May 2026 round ($2M led by The Spartan Group with Anchorage Digital and Susquehanna Crypto). Access is restricted to users outside the US, EEA, UK, Canada, Singapore, Hong Kong, and China.

Name

Saturn

Legal name

Prism Research, Inc.

Website

https://saturn.credit

Company type

Private

Founded year

2026

Operating status

Operating

Headcount range

1–10 employees

Short description

Saturn is a DeFi protocol issuing USDat (a 100% Treasury-backed stablecoin) and sUSDat (a yield-bearing version backed by Strategy's STRC), serving DeFi users seeking over 11% Bitcoin-linked yield across Ethereum and BNB Chain.

Ownership category

akta.pro rank

Product category

Decentralized Finance (DeFi) Stablecoin Protocol

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Finance Services (6199)

akta.pro primary industry

Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB)

akta.pro secondary industries

Yield Aggregators & Strategy Vaults (FSADAMAF), Stablecoin Issuers (Fiat-Backed) (FSADADAA)

Keywords

• Bitcoin-backed stablecoin
• DeFi yield protocol
• Tokenized credit
• Stablecoin platform
• Digital credit markets

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Stablecoin Yield Spread: Saturn generates yield for sUSDat holders through dividends from STRC (Strategy's perpetual preferred stock), which pays monthly dividends backed by Bitcoin held on Strategy's balance sheet. The protocol facilitates access to this institutional-grade yield onchain.
2. DeFi Protocol Integration Fees: Saturn earns points multipliers through integration with Curve, Pancakeswap, Pendle, Morpho, and Strata protocols, where users can provide liquidity and stake tokens to earn amplified rewards.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Saturn is a Bitcoin-backed DeFi stablecoin protocol that issues USDat, a non-yielding stablecoin 100% backed by tokenized U.S. Treasuries, and sUSDat, a yield-bearing version backed by Strategy's STRC perpetual preferred stock that generates 11%+ APY as digital credit dividends accrue. Users access the protocol through a self-serve app on Ethereum and BNB Chain, where they can deposit, exchange tokens, and deploy amplified yield strategies across Curve, Pancakeswap, Pendle, Morpho, and Strata integrations.

Product overview

Saturn is a DeFi protocol built on Bitcoin-backed digital credit that offers a dual-token architecture. The core products are USDat (a non-yielding stablecoin backed 100% by tokenized U.S. Treasuries) and sUSDat (a yield-bearing version backed by Strategy's STRC perpetual preferred stock that accrues value as dividends are paid). Users access these products through the Saturn App platform, where they can deposit tokens, participate in yield strategies across Curve, Pancakeswap, Pendle, Morpho, and Strata, and earn Gravity Points for their activity.

Differentiator

Problem solved

Functional benefit

Products and services

• USDat A non-yielding stablecoin backed 100% by tokenized U.S. Treasuries and stablecoins, used for permissionless and instant access to digital credit on Ethereum and BNB Chain. Targeted at DeFi users and stablecoin transactors seeking a Treasury-backed digital dollar.
• sUSDat The staked version of USDat backed 100% by Strategy's STRC perpetual preferred stock (digital credit). As STRC dividends accrue, sUSDat price increases, offering 11%+ yield to holders. Designed for DeFi users seeking Bitcoin-backed yield exposure.
• Saturn App The main DeFi application platform built on digital credit, enabling users to deposit USDC, exchange for USDat/sUSDat, access yield strategies across Curve, Pancakeswap, Pendle, Morpho, and Strata, and view portfolio insights. Available on Ethereum and BNB Chain.
• Gravity Points Program Non-transferable, non-redeemable off-chain promotional points awarded to users for qualifying activities such as deposits and strategy participation. Provides rank and potential future benefits, with multipliers up to 36x on Pendle BNB Chain yield strategies and a referral program (10% to referrers, 5% bonus to referred users).

Quantifiable outcome

• 11%+ yield through sUSDat staking backed by Bitcoin credit
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and major.

• Strategy (formerly MicroStrategy)coreStrategic or Co-development PartnerSaturn builds on Strategy's digital credit infrastructure, specifically tokenizing exposure to STRC (Strategy's Stretch) perpetual preferred stock. Saturn's USDat and sUSDat products derive yield from Strategy's STRC dividends backed by Bitcoin held on Strategy's balance sheet. This is a foundational partnership as Saturn's entire value proposition depends on Strategy's digital credit products.
• ChainlinkcoreTechnology or IntegrationSaturn adopted Chainlink CCIP following an extensive security review to enable onchain distribution of Strategy's STRC Bitcoin-backed digital credit. Chainlink provides the cross-chain interoperability infrastructure critical for Saturn's multi-chain deployment (Ethereum and BNB Chain).
• Curve FinancemajorTechnology or IntegrationCurve Finance is a decentralized exchange integration where Saturn users can provide liquidity to USDC/USDat and USDC/sUSDat pools, earning Saturn points multipliers up to 20x.
• PancakeswapmajorTechnology or IntegrationPancakeswap integration on BNB Chain allows Saturn users to provide liquidity to USDT/USDat and USDT/sUSDat LP pools, with Saturn points multipliers up to 24x on BNB Chain.
• PendlemajorTechnology or IntegrationPendle integration enables yield tokenization for USDat and sUSDat, allowing users to buy yt-USDat and yt-sUSDat tokens with Saturn points multipliers up to 36x on BNB Chain. Pendle is a key protocol for Saturn's yield amplification strategies.
• MorphomajorTechnology or IntegrationMorpho integration enables users to supply sUSDat as collateral for lending (2x Saturn points) and lend USDC through the Saturn Vault (1x points), providing capital efficiency options for Saturn users.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ondo Finance: Ondo Finance issues tokenized US Treasuries products (USDY, OUSG) that deliver institutional-grade yield onchain, mirroring Saturn's USDat stablecoin backed by tokenized USTs. Both target DeFi and TradFi users seeking real-yield exposure to traditional credit instruments via blockchain rails.
• Pendle Finance: Pendle is a yield-tokenization protocol that Saturn integrates with for yt-USDat/yt-sUSDat strategies. Pendle's core product of splitting yield-bearing assets into principal and yield tokens directly overlaps with Saturn's yield amplification strategy for sUSDat holders.
• MakerDAO / Sky: MakerDAO/Sky operates the DAI/USDS stablecoin and Spark lending protocol, one of the largest decentralized stablecoin and yield platforms. Both Saturn and MakerDAO issue yield-bearing stablecoins backed by crypto collateral and real-world assets, competing for similar DeFi liquidity and integrations.
• Curve Finance: Curve is a stablecoin-focused DEX where Saturn's USDat/sUSDat liquidity pools are deployed. Both target low-slippage stablecoin swaps and yield generation, with Curve serving as the primary liquidity venue for Saturn's tokens.
• Morpho: Morpho is a lending protocol that Saturn directly integrates with for sUSDat collateral supply and USDC lending vaults. Both operate yield-optimized lending markets on Ethereum targeting sophisticated DeFi users seeking capital-efficient returns.
• Aave: Aave is the largest decentralized lending protocol, where users supply assets to earn yield and borrow against collateral. Saturn integrates with similar DeFi infrastructure and targets the same yield-seeking capital that Aave has historically attracted on Ethereum and BNB Chain.
• Ethena: Ethena operates USDe, a synthetic dollar that earns yield through delta-neutral hedging strategies combining crypto collateral and short perpetual positions. Like Saturn's sUSDat, it offers a yield-bearing stablecoin to DeFi users, directly competing for the same yield-seeker audience with a different yield source.
• Frax Finance: Frax is a fractional-algorithmic stablecoin protocol offering frxUSD (stablecoin) and sfrxUSD (yield-bearing version). Both Saturn and Frax operate dual-token architectures pairing a stablecoin with a yield-bearing variant, targeting similar DeFi yield-seeking users.

Broad incumbents

• Circle (USDC): Circle issues USDC, the dominant regulated USD stablecoin that Saturn integrates with as core collateral (USDC/USDat Curve pools). As the incumbent stablecoin issuer, Circle represents both a critical infrastructure dependency for Saturn and a competitor for the institutional stablecoin market.

Emerging players

• Usual Money: Usual is a stablecoin protocol issuing USD0 backed by tokenized real-world assets (RWAs) including USTs, with a yield-bearing variant. Like Saturn, it focuses on real-yield stablecoins backed by institutional credit instruments, though Usual uses broader RWA baskets rather than Strategy's STRC specifically.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/saturn_credit

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saturn