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The move is designed to make the company’s stablecoin more attractive in a crowded and growing market.
According to a report by Bloomberg, the yield will accrue daily and be paid out monthly in PYUSD. Users will be able to earn rewards while holding their stablecoins in PayPal and Venmo wallets. The PYUSD can still be spent using PayPal Checkout, sent to others, or converted back to fiat dollars at any time.
The program is scheduled to go live this summer, marking a significant push by PayPal to accelerate the adoption of digital dollars within its ecosystem.
PayPal’s Long-Term Stablecoin Vision
“We are halfway in a 10-year journey,” said Jose Fernandez da Ponte, PayPal’s head of blockchain and digital currencies. He emphasized that the broader goal is to build new payment rails that are faster and more cost-effective.
PayPal CEO Alex Chriss also weighed in, stating that stablecoins represent a transformative opportunity to redefine how value moves in the global payments landscape.
The post PayPal Offers 3.7% Yield on PYUSD Stablecoin to Boost Adoption appeared first on Coindoo.
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