With the launch of USDC Rewards, eligible US customers will start earning 1.25% APY rewards on every USD Coin they hold on Coinbase
Coinbase is committed to building the easiest, most trusted crypto investment experience in the world. As crypto adoption continues to spread, it’s our goal to deliver more ways for anyone to legally and securely do more with their crypto, beyond trading.
With today’s launch of USDC Rewards, eligible US customers will begin earning 1.25% APY* rewards on every USD Coin (USDC) they hold on Coinbase. USD Coin is a stablecoin, which offers price stability by being backed by a reserve asset. USD Coin maintains its stable price because you can always redeem one USD Coin for one US dollar. It has both the functional benefits of crypto — you can instantaneously send it anywhere for free and hold it without a financial intermediary — along with the stability that the US dollar backing provides.
CENTRE, the consortium co-founded by Coinbase and the creator of USD Coin, recently announced it has issued over one billion USD Coins. With today’s announcement, Coinbase is excited to make USD Coin even better by offering rewards when you hold USD Coin on Coinbase:
- Earn more. Get a 1.25% APY reward for holding USD Coin on Coinbase.
- Save where you trade. It takes four to five days to transfer between your bank and typical crypto brokerages, when you want to switch between saving and trading. Now you can do both in the same place on Coinbase, instantly.
- Safety. Coinbase does not lend or manage your USD Coins. Your crypto is yours and always stays in your account. You simply earn while storing your crypto safely on Coinbase.
- Real-time. Watch your earnings increase in real-time. Get a taste of the future of money today.
USDC Rewards is a way for Coinbase customers to earn a return on USD Coin holdings without having to sell or transact any cryptocurrency. In line with Coinbase’s mission to make crypto accessible to everyone, USDC Rewards will enable more customers to take advantage of stablecoin rewards, simply and easily.
Earning rewards on your USD Coins is simple. Eligible customers will begin earning rewards on any USD Coins they currently hold on Coinbase, with rewards being distributed on a monthly basis. The percentage rate of rewards is the same no matter your balance. The more USD Coins you hold, the more rewards you will automatically earn, all with no additional costs or fees. USD Coin rewards accrue daily, and customers will maintain complete control over their USD Coins at all times.
It’s also free to buy USD Coins with a bank account, and Coinbase customers can convert their USD Coins into any supported cryptocurrencies available on Coinbase.com or withdraw in US dollars anytime.
USDC is not legal tender. USDC is a digital currency and Coinbase has no right to use any USDC you hold on Coinbase. Coinbase is not a depository institution, and your USDC is not a deposit account — savings, checking or otherwise. Your USDC wallet is not insured by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).
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