PayPal and Anchorage Digital launch PYUSD reward program for institutional investors.

PayPal and Anchorage Digital are launching a new stablecoin rewards program specifically designed for institutional investors. The program, announced on August 22, will provide yield for the PayPal USD ($PYUSD) token held in Anchorage Digital's custody solution. This offers institutions a secure way to earn rewards without the need for staking or lending.
The program is tailored for institutional clients, allowing them to earn yield from $PYUSD tokens stored in Anchorage custody, including their self-custody wallet Porto. Emphasizing security, the program keeps the stablecoins in on-chain accounts. PayPal and Anchorage will no longer collateralize or lend out assets to generate rewards.
Nathan McCauley, CEO of Anchorage Digital, highlights the potential impact of the program's widespread adoption by institutional investors using PYUSD. He notes that the program can help bridge the gap between traditional finance and the digital asset ecosystem, offering institutions a new way to engage with stablecoins. (CoinEdition)