U.S.-based crypto exchange Coinbase has announced the launch of their USDC Rewards program, allowing eligible customers to begin earning 1.25% APY on their USD Coin holdings.
Coinbase USDC Rewards
According to the press release published Oct. 2, Coinbase is now allowing eligible US customers the opportunity to participate in their USDC Rewards program. The program pays users an annual percentage yield (APY) of 1.25% on the USD Coins held on Coinbase’s exchange.
While USD Coin (USDC) is a stablecoin pegged to the U.S. dollar, traders will have the opportunity to generate earnings through Coinbase’s program. According to the release,
USDC Rewards is a way for Coinbase customers to earn a return on USD Coin holdings without having to sell or transact any cryptocurrency. In line with Coinbase’s mission to make crypto accessible to everyone, USDC Rewards will enable more customers to take advantage of stablecoin rewards, simply and easily.
Reward earnings are calculated daily and investors will maintain full control over their USDC if they wish to transfer them to a different wallet or exchange. Coinbase does not charge a commission on the purchase USD Coin for customers using a supported bank account.
Since launching in September 2018, more than 1 billion USD Coins have been issued to the marketplace.
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