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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 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.
