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Anchorage Digital has launched its first stablecoin rewards program for Paypal USD ($PYUSD) holders, offering institutions a secure way to earn rewards. Available through Anchorage Digital’s platform and the Porto self-custody wallet, the program emphasizes security by avoiding rehypothecation, staking, or lending.
Anchorage Digital and Paypal Unveil Secure Rewards Program for $PYUSD Holders
Anchorage Digital announced on Thursday the launch of its first stablecoin rewards program for Paypal USD ($PYUSD) holders, available via Anchorage Digital’s platform and the new Porto self-custody wallet.
The program enables institutions to earn rewards on $PYUSD held in Anchorage Digital’s secure on-chain custody or through the Porto self-custody wallet. Noting that this collaboration with Paypal ensures that crypto innovators can maximize the value of their assets without compromising security, the announcement details:
$PYUSD remains fully accessible and segregated in participants’ accounts on-chain for quick deployment leveraging Anchorage Digital’s industry-leading security model. Importantly, this program presents a way to earn rewards without rehypothecation, staking, or lending involved.
Jose Fernandez da Ponte, Paypal’s Senior Vice President and General Manager of Blockchain, Crypto, and Digital Currencies, remarked: “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.”
Institutions participating in this program benefit from streamlined onboarding, secure custody, and the ability to earn rewards while maintaining full access to their $PYUSD. This offering marks a significant step forward for institutions managing stablecoins, allowing them to diversify securely and efficiently within Anchorage’s trusted infrastructure.