Anchorage Digital has launched the first stablecoin rewards program for Paypal USD (PYUSD) holders, providing institutions with a secure way to earn rewards. Available through Anchorage Digital’s platform and Porto self-custody wallet, the program emphasizes security by avoiding re-collateralization, staking, or lending.
Anchorage Digital and Paypal Announce Secure Rewards Program for PYUSD Holders
On Thursday, Anchorage Digital announced the launch of its first stablecoin rewards program for Paypal USD (PYUSD) holders, available through Anchorage Digital’s platform and new Porto self-custody wallet.
The program allows institutions to earn rewards on PYUSD held in Anchorage Digital’s secure on-chain custody system or via the Porto self-custody wallet. Noting that this partnership with Paypal ensures that crypto innovators can maximize the value of their assets without compromising security, the announcement detailed:
PYUSD remains fully accessible and segregated in the participant’s account on-chain for rapid deployment leveraging Anchorage Digital’s industry-leading security model. Importantly, the program provides a way to earn rewards without re-collateralization, staking, or lending.
“Anchorage Digital and Paypal share a common vision of providing secure and efficient payment solutions to institutions, maximizing the value of their digital assets and extending the utility and benefits of PYUSD to institutional customers,” commented Jose Fernandez da Ponte, Senior Vice President and General Manager of Blockchain, Crypto and Digital Currency at Paypal.
Institutions participating in this program benefit from a streamlined onboarding process, secure custody, and the ability to earn rewards while maintaining full access to their PYUSD. This offering marks a significant step forward for institutions managing stablecoins, allowing them to safely and efficiently diversify within Anchorage’s trusted infrastructure.
What do you think about the partnership between Anchorage Digital and Paypal to provide secure rewards to PYUSD holders? Let us know in the comments below.
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