PayPal and Anchorage Team Up to Offer PYUSD Rewards Program

IconCryptoNewsTerminal Staff23 Aug, 2024

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PayPal and Anchorage Team Up to Offer PYUSD Rewards Program

PayPal, the global payments giant, and Anchorage, a crypto custody and banking provider, have joined forces to launch a rewards program for institutional investors in the stablecoin PYUSD, according to a report by The Block. This program stands out in the market by offering interest payments on PYUSD held in Anchorage's crypto-native bank or its institutional cold storage custody wallet, known as the Anchorage Secure Custody Wallet. One of the key differentiators of this program is that it enables users to earn yield on their PYUSD without the need for staking or collateralizing their funds. The rewards are expected to be paid out in PYUSD, but this has yet to be officially confirmed. This latest development reinforces the growing adoption of digital assets by major financial institutions. As the crypto market continues to mature, we can anticipate further innovative solutions and collaborations that bridge the gap between traditional finance and the world of digital assets.

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