- Anchorage Digital, a federally-chartered crypto financial institution, has added assist for rewards for holders of the stablecoin PayPal USD (PYUSD).
- PYUSD holders can earn the rewards by custodying their tokens with Anchorage Digital, or by way of the Porto pockets.
Anchorage Digital has launched a stablecoin rewards program, permitting holders of the PayPal USD (PYUSD) stablecoin to earn rewards.
This system will profit clients who custody their PYUSD on the crypto financial institution, or use the platform’s new institutional self-custody pockets Porto.
Anchorage Digital introduced the function in a weblog publish printed on Aug. 22.
“Crypto innovators want to put their treasury cash to work but cannot compromise on asset security or accessibility. That’s why Anchorage Digital is proud to work with PayPal, a publicly-traded company with a proven track record in crypto innovation to launch Anchorage Digital’s stablecoin rewards program featuring PYUSD,” Nathan McCauley, chief govt officer and co-founder of Anchorage Digital stated.
The Anchorage Digital CEO added that the platform will collaborate with protocols, foundations, enterprise capital corporations and startups to assist and unlock entry to the PYUSD rewards program.
“Anchorage Digital and PayPal share a common vision of providing secure and efficient payment solutions for institutions that maximize the value of their digital assets and expand PYUSD’s utility and benefits for institutional customers,” Jose Fernandez da Ponte, SVP and basic supervisor of blockchain, crypto, and digital currencies at PayPal, added.
Help for Solana, ZKsync
PayPal USD is a 1:1 US dollar-pegged stablecoin that launched in 2023. The Paxos Belief Firm, regulated within the US, points the PYUSD token that’s absolutely backed by USD deposits, US Treasuries in addition to comparable money equivalents. PayPal permits the acquisition and sale of the stablecoin on its platform.
Anchorage Digital lately added custody assist for zero-knowledge cryptocurrency ZKsync.
The federally chartered crypto financial institution additionally introduced assist for Solana (SOL) and SPL tokens in early August. In accordance with particulars shared on the time, enlargement to Solana permits establishments to securely custody SO and SPL tokens.
PayPal USD went stay on Solana in Could 2024.
