Coinbase Wallet users can now earn 4.7% APY on USDC holdings as the platform expands its rewards program globally.
If announced in their press release, the new feature allows users to earn rewards on USDC without lock-up periods, with monthly payouts sent directly to wallets on the Base network.
The program is available in most regions around the world and is rolling out to US users this week.
USDC holders can send and receive payments on the Base network at no cost. The stablecoin, designed to maintain a 1:1 peg to the US dollar, allows for instant cross-border settlements.
The rewards program supports USDC balances in Coinbase Wallet across multiple blockchain networks, including Base, Ethereum, Arbitrum, Avalanche C-Chain, Polygon, and Optimism.
Users can access the rewards feature by downloading Coinbase Wallet and activating USDC rewards on the asset page, if eligible.
The rewards rate may vary by region, with current rates reflected in eligible users’ wallets.