PayPal’s PYUSD Introduces Interest Rewards With Anchorage Bank Partnership

Quick Summary:

PayPal is advancing its stablecoin initiative by introducing an interest rewards program for holders of its dollar-pegged PYUSD stablecoin.

This program, in partnership with Anchorage Digital, signals the next step in PayPal’s campaign to expand the use of its stablecoin.

The rewards will be derived from the interest earned from the underlying assets backing it, especially the US Treasuries, and will not be treated as a marketing expense.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: IndiaBrazilCayman IslandsSingapore

Topics: PYUSD Stablecoin PayPal Stablecoin News 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-22 @ 16:49:45 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 441 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22213265

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 36 posts per day

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News Last Updated: 8 hours ago

Coverage Areas: India

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