PayPal Holdings Inc. plans to offer rewards to its users on their holdings of its stablecoin, in a bid to encourage more usage of the digital token in an increasingly competitive market.
Through the program, which is expected to launch this summer, PayPal and Venmo users in the US will be able to earn 3.7% annually on PayPal USD (PYUSD) holdings in their wallets, the company said on Wednesday. Users will receive the rewards in PYUSD, which they will be able to exchange for fiat currency, send to other users, fund international transfers or utilize for purchases with PayPal ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.