Source: Cointelegraph Original: "{title}"
Payment giant PayPal plans to offer a 3.7% yield on its PayPal USD stablecoin balance.
According to a Bloomberg report on April 23, a PayPal representative stated that this move aims to encourage more users to utilize the company's stablecoin. The program is expected to launch this summer, with rewards paid in PayPal USD (PYUSD).
Users can exchange PYUSD for fiat currency, spend it, or transfer it to other users. Earnings will be calculated daily and paid monthly. The company hopes this feature will increase the usage of stablecoins and cryptocurrency payments on its platform.
Previously, the market capitalization of PayPal USD reached $1 billion in the summer of 2024. As of the time of writing, the market cap of the stablecoin has decreased by nearly a quarter to $873.3 million.
Tzahi Kanza, CEO of crypto investment firm Syndika, told Cointelegraph: "From a regulatory perspective, PayPal must ensure that offering interest does not lead to its stablecoin being classified as a security." When discussing the financial risks faced by users, he stated that PayPal has the ability to fulfill its commitments, with the main risk being a decoupling from the dollar rather than issues related to interest. He said:
PayPal is betting on blockchain technology through continuous product development. Reports in early April indicated that PayPal has expanded its cryptocurrency product range, adding Chainlink (LINK) and Solana (SOL), allowing U.S. users to buy, sell, and transfer these popular tokens.
Marc Boiron, CEO of Polygon Labs, listed PayPal as one of the catalysts driving rapid growth in the stablecoin industry in recent years. In an interview with Cointelegraph, Boiron stated: "Companies like Stripe and PayPal integrating stablecoins could be a major catalyst for their growth."
PYUSD is a stablecoin pegged to the dollar, issued by Paxos Trust Company on behalf of PayPal in August 2023. At launch, PayPal became the first major payment network to introduce its own stablecoin, with Venmo starting to offer support in September 2023.
Each token is reportedly backed 1:1 by cash deposits, short-term U.S. Treasury bills, and similar cash-equivalent assets, which are regulated by the New York State Department of Financial Services. PYUSD was initially an ERC-20 token compliant with Ethereum standards and has since been deployed on the Solana network.
The current market cap of PayPal USD still lags far behind that of the largest stablecoin, Tether (USDT). According to CoinMarketCap data, USDT's market cap stands at $145.3 billion, over 17,255% higher than PYUSD. Kanza stated: "Tether's advantage lies in its market dominance, not in regulatory compliance, transparency, or yield," as it does not offer these. He added:
Related: Report: Cantor plans to establish a $3 billion crypto investment company in partnership with SoftBank, Bitfinex, and Tether.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
