Payments Giant PayPal is said to start offering customers who give up his own Stablecoin product.
According to a new report By Bloomberg, PayPay is planning to offer rewards to users of their Stablecoin PayPal USD (Pyusd) as a means to increase its use.
The report says that the program is expected to launch somewhere in the summer, although no specific date was mentioned, and users of both PayPal and Venmo would enable 3.7% annually on Pyusd Holdings in their crypto portfolios.
The rewards – which are building up daily and are paid on a monthly basis – are paid in Pyusd that customers can then convert to Fiat -Valuta, use for payments or send to other users.
Jose Fernandez da Ponte, senior vice president and general manager of PayPal of Blockchain, Crypto and Digital Currencies, told Bloomberg in an interview that the aim of the company is to stimulate the use of Stablecoins as a form of payment on his platform.
“We see Stablecoins as building the next generation of payment rails, but we are aware that this is something that takes time. We are halfway through [through] A journey of 10 years. ”
Pyusd was launched in 2023 in collaboration with Stablecoins -Mittent Paxos, which out That the reserves of the token are held 100% in deposits of the US dollar that are available for 1: 1 release.
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