PayPal plans to promote the use of stablecoin PYUSD by offering a 3.7% balance interest
According to Bloomberg, PayPal announced a stablecoin PYUSD holding rewards program to be launched this summer. U.S. users holding PYUSD through PayPal and Venmo wallets can earn an annual yield of 3.7% (calculated daily and distributed monthly). The yield is paid in PYUSD and can be converted to fiat currency, sent to other users, used for international transfers, or utilized during PayPal Checkout transactions. PayPal's head of blockchain business stated that this move aims to increase the usage of PYUSD within its payment network, and the company views stablecoin as a core component of the “next-generation payments infrastructure.”
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