PayPal to Offer 3.7% Annual Yield on PYUSD Stablecoin Starting This Summer, Shares Rise 2.5% Pre-Market

PayPal Holdings, Inc. plans to offer an annual yield of 3.7% on balances held in its stablecoin, PYUSD, starting this summer. The initiative aims to encourage broader usage of the digital token amid a competitive market for stablecoins. This move by PayPal is designed to incentivize users to hold PYUSD by providing returns similar to interest on traditional financial products. The announcement has been noted alongside a 2.5% increase in PayPal’s stock price in pre-market trading. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant