PayPal and Anchorage Collaborate to Launch PYUSD Stablecoin Reward Program

Payment giant PayPal and cryptocurrency custodian Anchorage Digital are collaborating to launch a stablecoin reward program. The program will pay earnings on the PayPal USD (PYUSD) tokens held by crypto-native banks or self-custodied wallets of Anchorage institution Porto. Reportedly, the reward program allows users to earn money through PYUSD balance without needing to pledge, lend out or re-collateralize funds. Stablecoins will be completely isolated in their chain accounts, which means that Anchorage and PayPal will not borrow customer assets to earn returns for paying the cost of this program.