| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $108193.0400000000 |
| ETH | $2457.9950000000 |
| BNB | $650.4400700000 |
| XRP | $2.1969550000 |
| ADA | $0.5646129000 |
| SOL | $151.6002000000 |
| DOGE | $N/A |
| DOT | $3.4307100000 |
| LTC | $86.6775000000 |
| LINK | $13.4417300000 |
Category: CRYPTO NEWS
The post PayPal to offer 3.7% yield on stablecoin balances: Report appeared on BitcoinEthereumNews.com. 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 monthly basis. The company hopes this feature will lead to a higher predominance of stablecoin and crypto payments on its platform. The report follows PayPal USD reaching a $1 billion market cap in the summer of 2024. As of publication, the stablecoin’s market cap is nearly a quarter lower at $873.3 million. PayPal USD’s market cap chart. Source: CoinMarketCap Tzahi Kanza, CEO of crypto investment firm Syndika, told Cointelegraph that “from a regulatory standpoint, PayPal must ensure that offering interest doesn’t cause its stablecoin to be classified as a security. “When it comes to financial risks for the users, he said that PayPal can keep its promises, and the main risk is losing the peg to the dollar rather than interest-related issues. He said: “Stablecoins that don’t offer yield are generally not considered securities. However, yield-bearing stablecoins may fall under that classification.” Related: PayPal’s Xoom launches cross-border stablecoin settlement PayPal is betting on crypto PayPal is betting on blockchain technology with its continued product development. Reports from earlier in April show that PayPal has expanded its cryptocurrency offerings to include Chainlink (LINK) and Solana (SOL), giving US-based users the ability to buy, sell and transfer the popular tokens. In fact, PayPal was cited by Polygon Labs CEO Marc Boiron as one…
2025-04-24T03:44:08+00:00
https://bitcoinethereumnews.com/tech/paypal-to-offer-3-7-yield-on-stablecoin-balances-report/?utm_source=rss&utm_medium=rss&utm_campaign=paypal-to-offer-3-7-yield-on-stablecoin-balances-report