Payments behemoth PayPal plans to offer a 3.7% yield on balances held in its PayPal USD stablecoin.
According to an April 23 Bloomberg report, a PayPal representative said that the measure aims to encourage more usage of the firm’s stablecoin. The program is expected to launch this summer, and the rewards will also be paid out in PayPal USD (PYUSD).
Users will be able to exchange PYUSD for fiat currency, spend it or send it to other users. The rewards will accrue daily and will be paid on a…
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