Cayman Islands-registered Buck Labs has launched the “BUCK” crypto token, positioning it as a yield-generating “savings coin” designed to help users seek returns on U.S. dollar-denominated cryptocurrency holdings without relying on traditional stablecoins.
The token is backed by shares of Strategy (MSTR), the largest corporate holder of Bitcoin with nearly 675,000 Bitcoins on its balance sheet.
Buck Labs founder and CEO Travis VanderZanden told CoinDesk that BUCK was initially priced at $1 and was designed to distribute rewards, currently targeting around 7% per year, with returns accruing by the minute. BUCK is not sold as a stablecoin and does not remain pegged to the U.S. dollar, meaning its price may fluctuate based on market conditions.
Rewards distributed to holders are funded indirectly through Strategy’s bitcoin-linked perpetual preferred shares (known as STRC) held by the foundation, which pay regular income to the treasury. Strategy and its chairman, Michael Saylor, have no relationship with Buck and do not sponsor or endorse the token.
“Every healthy economy needs a way to spend and a way to save, which is why Buck is launching SavingsCoin,” said VanderZanden, who has held leadership roles at Bird, Lyft and Uber. “Stablecoins have become very good at moving money, but Barker is designed for what happens in the middle, earning returns on idle capital.
BUCK is structured as a governance token that allows holders to vote on reward distribution and other protocol decisions. The token is initially intended for non-U.S. users and is not offered as a security, the company said.
VanderZanden said the product is aimed at users who want to earn predictable cryptocurrency-based returns without actively trading. “People want an easy way to earn cryptocurrency rewards without having to become speculators,” he said. “Buck was designed to make saving cryptocurrency more intuitive.”
Buck Labs said the product is designed to complement, not replace, existing stablecoins by providing a savings-focused alternative for long-term holding.
