2024

PayPal USD

COTI

Rewards

On Aug 22, PayPal and crypto custodian Anchorage Digital announced a new partnership, introducing a stablecoin rewards program focused on PayPal USD (PYUSD).
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 Today, <a href="https://twitter.com/Anchorage?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Anchorage</a> Digital is pleased to introduce stablecoin rewards on <a href="https://twitter.com/PayPal?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@PayPal</a>’s PYUSD. Earn competitive rewards on PYUSD balances in our secure custody or in our institutional self-custody wallet, Porto. Learn more ⬇️:<a href="https://t.co/LtcmXRgnCh" target="_blank" rel="noopener noreferrer nofollow">https://t.co/LtcmXRgnCh</a> <a href="https://t.co/0ZyoJSvAkp" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/0ZyoJSvAkp</a>— Anchorage Digital (@Anchorage) <a href="https://twitter.com/Anchorage/status/1826608198151012544?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 22, 2024</a>
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The program is designed for institutional investors and offers them a way to earn interest on their PYUSD holdings without taking on risks like staking or lending.&nbsp;
The stablecoins will be securely held in on-chain accounts, ensuring that neither Anchorage nor PayPal loans out customers’ assets to fund the rewards. According to the <a href="https://www.anchorage.com/insights/anchorage-digital-introduces-stablecoin-rewards-holders-paypal-usd" target="_blank" rel="noopener noreferrer nofollow">announcement</a>, the main target of this program is Anchorage’s accredited institutional clients.&nbsp;
Moreover, this rewards initiative comes as PayPal’s stablecoin sees steady growth, with its supply increasing by over 60% in the past month. PYUSD recently overtook another popular stablecoin, USDD, becoming the sixth-largest stablecoin by market value.&nbsp;
Anchorage’s CEO, Nathan McCauley, believes this program could encourage more institutions to use stablecoins and bridge the gap between traditional finance and digital assets.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/24/coti-joins-paypal-and-fireblocks-for-israels-cbdc-project/" rel="noopener noreferrer nofollow">COTI Joins PayPal and Fireblocks for Israel’s CBDC Project</a>
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PayPal and Anchorage Launch Stablecoin Rewards Program for Investors

The Crypto Times

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