You can get 10 to 12% on a "CD-like" 3-month deposit account in USDC at Crypto.com. Even the flexible account (no lockup) is 8% right now. And they have a Visa debit card that you can spend USDC directly from your account.
The way they are able to offer such high rates is they partner with large institutions who wish to take on extreme leverage/margin in order to short cryptocurrencies or leverage-long play them.
These institutions and high-net-worth individuals have no problems paying 30%+ APR on a crypto loan (coming from many such individual users' staking vaults) because they tend to hold their positions over days or weeks, not years.
To add to why they might do this, their potential for profit (arbitrary e.g. shorting BTC at $62k and closing at $59k; or 5x leverage-buying BTC at $50k and closing the position at $53k) is tremendously high considering how volatility cryptocurrency markets are; far higher than the interest they pay to Crypto.com/Coinbase/Gemini/Kraken/any of these other services which offer 8-12% APY yields to retail users.
However you can do so using DAI or certain other stablecoins. You can also do so using Ethereum and a select few cryptocurrencies.
I verified I wasn't imagining and checked to find several reddit threads from US-based users wondering why you cannot use USDC to top up. Here's a fairly one: https://www.reddit.com/r/Crypto_com/comments/oll7n4/is_the_o...
The ability to top up with USDC was only recently added. That being said, I tested it and 1USDC does indeed convert to 1USD.
But go ahead and try to top up with DAI - you'll see at this moment in time, 100.98 DAI is required to top up $100 USD. As mentioned previously DAI was the only dollar stablecoin available to USA users, so it was a bit of a raw deal.