Based on the information you provided and the available Islamic jurisprudence sources regarding digital financial transactions, the detailed answer is as follows:

1. Suspicion of Riba (Lending for Profit)
The product relies on depositing (a loan) of stablecoins (USDT/USDC) in exchange for obtaining GUSD at a fixed rate of 1:1, with "daily returns." In Islamic law, if the deposit is structured as a loan, any increase associated with it is considered explicit riba. The Islamic jurisprudence rule is clear: "Every loan that results in profit is riba."
2. Capital Guarantee with Profit
The text clearly states that the product is "capital protected" and offers "stable returns."
* Shariah issue: In Islamic investment contracts (like mudarabah), capital guarantee is not permissible; because the investor must be a partner in profit and loss. However, guaranteeing the principal with daily profit distribution makes the transaction resemble traditional interest-based loans.
3. Source of Returns (Treasury Bonds)
The text clarifies that the returns are based on "tokenized US Treasury bonds."
* Ruling: Treasury bonds are fixed-interest loans issued by governments, which are prohibited by consensus of Islamic jurisprudence councils because they are riba-based. Investing in these bonds, even through a digital intermediary, is considered participation in an riba transaction, and the resulting returns are not permissible to own.
4. Use as Collateral (Collateral)
The possibility of using GUSD as collateral to borrow other currencies may open the door to entering into riba-based loans, increasing suspicions about the product.
Shariah conclusion:
According to the mentioned criteria (capital guarantee, fixed returns, and linkage to treasury bonds), this product involves clear Islamic violations (riba suspicion). It is advised to avoid such "yield-bearing" (Yield-bearing stablecoins) products that guarantee capital and rely on interest from loans.
For more understanding of shariah regulations in digital currencies:
You can watch this video where Sheikh Dr. Saad Al-Khathlan discusses the ruling on dealing with digital currencies and the controls to consider to avoid riba and shariah risks.
This video explains the Islamic jurisprudence foundation for digital transactions and the difference between permissible trading and practices that may fall into forbidden territory.

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