PayPal and Crypto Bank Anchorage Launch PYUSD Rewards Program
24.08.2024 12:00 1 min. read Alexander Stefanov
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.
Rewards will be issued in PYUSD, with amounts dependent on deposit size and subject to variation.
-
1
Ripple Gave Millions to Trump Before SEC Softened Its Stance
23.04.2025 13:00 2 min. read -
2
Russia Eyes a High-End Crypto Trading Platform for Wealthy Investors
24.04.2025 13:20 2 min. read -
3
Crypto Giants Move Toward U.S. Banking Licenses in Bid for Legitimacy
22.04.2025 9:00 2 min. read -
4
Crypto Advocates Slam BIS Over ‘Isolation Strategy’ for Digital Finance
21.04.2025 11:00 2 min. read -
5
Kyrgyzstan Teams Up with Binance to Boost Crypto Payments and Education
05.05.2025 9:00 2 min. read
Paxos-Backed USDG Builds Global Presence Through Revenue-Sharing Model
A new wave of companies is joining the Global Dollar Network (GDN), a stablecoin initiative anchored by Paxos and backed by firms like Robinhood, Galaxy, and Kraken.
Meta Eyes Stablecoin Integration as Crypto Goes Mainstream
Bitcoin’s recent breakout above $100,000 is just one piece of a much bigger story: crypto is edging closer to the mainstream, and some of the biggest names in tech want in.
DeGods Founder Exits as NFT Sales Surge Across Chains
Just as DeGods NFTs began regaining momentum on Ethereum and Solana, the project’s founder, Rohun Vora—better known as “Frank”—announced he’s stepping away from day-to-day leadership.
USA-China Trade Truce Sparks Crypto and Stock Market Optimism
Global markets are gaining traction after the U.S. and China struck a short-term trade deal, dialing down tariffs to 10% for a 90-day period starting May 14.
-
1
Ripple Gave Millions to Trump Before SEC Softened Its Stance
23.04.2025 13:00 2 min. read -
2
Russia Eyes a High-End Crypto Trading Platform for Wealthy Investors
24.04.2025 13:20 2 min. read -
3
Crypto Giants Move Toward U.S. Banking Licenses in Bid for Legitimacy
22.04.2025 9:00 2 min. read -
4
Crypto Advocates Slam BIS Over ‘Isolation Strategy’ for Digital Finance
21.04.2025 11:00 2 min. read -
5
Kyrgyzstan Teams Up with Binance to Boost Crypto Payments and Education
05.05.2025 9:00 2 min. read