PayPal plans to promote the use of the stablecoin PYUSD by offering a 3.7% interest on balances

ChainCatcher news, according to Bloomberg, PayPal announced that it will launch a stablecoin PYUSD holding rewards program this summer. U.S. users holding PYUSD through PayPal and Venmo wallets can earn an annual yield of 3.7% (calculated daily and paid monthly). The earnings are distributed in the form of PYUSD and can be exchanged for fiat currency, sent to other users, used for international transfers, or spent during PayPal Checkout.