PayPal and Anchorage Digital are launching a new stablecoin rewards program specifically for institutional investors. Announced on August 22, the program will provide yield on PayPal USD (PYUSD) tokens held in Anchorage Digital custody solutions. This provides institutions with a way to securely earn rewards without staking or lending.
Tailored for institutional clients, the program allows them to earn yield on PYUSD tokens stored in Anchorage custody, including its self-custody wallet Porto. The program prioritizes security, keeping stablecoins in on-chain accounts. Neither PayPal nor Anchorage will pledge or lend assets to create rewards.
Anchorage Digital CEO Nathan McCauley emphasized the program’s potential impact on the widespread adoption of PYUSD by institutional investors. He noted that the program can help bridge the gap between traditional finance and the digital asset ecosystem, providing institutions with a new way to participate in stablecoins. (CoinEdition)