TechFlow, August 5 — According to Decrypt, despite the recently passed U.S. GENIUS Act prohibiting stablecoin issuers from offering yields to holders, Coinbase and PayPal plan to continue providing customers with 3% to 5% rewards on stablecoin deposits.
Coinbase CEO Brian Armstrong stated during an earnings call that since Coinbase is not the issuer of USDC and the company offers "rewards" rather than "interest," it will continue to provide USDC holders with a 4.1% annualized reward. Similarly, PayPal's stablecoin PYUSD is issued by third-party company Paxos, allowing it to continue offering users a 3.7% annualized return.
Add to Favorites
Share to Social Media
