PayPal announces partnership with crypto bank Anchorage Digital to offer stablecoin rewards
In order to increase adoption rates, PayPal has announced a partnership with Anchorage Digital, the only US cryptocurrency company with a banking license, to provide stablecoin rewards to Anchorage Digital's qualified investor user base. These investors hold PYUSD in their US bank, Singapore subsidiary, or through their non-custodial wallet, Porto. Anchorage Digital states that PYUSD and the rewards program do not constitute securities issuance, nor are they under the jurisdiction of banking regulatory authorities.
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