PayPal and Crypto Bank Anchorage Launch PYUSD Rewards Program

PayPal is teaming up with Anchorage Digital to offer a new rewards program for its stablecoin, PayPal USD (PYUSD).

This initiative will allow users to earn rewards on their PYUSD tokens without engaging in activities like staking or lending. The tokens will stay fully segregated in their accounts, ensuring they aren’t used for lending purposes.

This program, aimed at institutional clients of Anchorage, comes as PayPal’s stablecoin is gaining traction but has not yet achieved a $1 billion market cap. Recently, PYUSD’s supply on Solana matched that on Ethereum, and it surpassed USDD to become the sixth-largest USD-backed token by market cap.

Nathan McCauley, CEO of Anchorage, expects the program to boost the adoption of PYUSD and bridge traditional finance with digital assets. The rewards will be funded by Anchorage, with no rehypothecation or lending involved. Details on the exact mechanism are still unclear.

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Rewards will be issued in PYUSD, with amounts dependent on deposit size and subject to variation.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.