Coinbase will pay users 4% interest on USDC holdings
Cointelegraph
Published Jun 29, 2021 05:15PM ET
Updated Jun 29, 2021 07:20PM ET
Major cryptocurrency exchange Coinbase has announced users will be able to earn 4% interest on USD Coin through a product the company compared to an alternative to a fiat savings account.
In a Tuesday blog post, Coinbase said its users could earn 4% annual percentage yield, or APY, by lending out their holdings for the U.S. dollar-pegged stablecoin USD Coin (USDC). The crypto exchange seemed to be targeting banks with the offering, claiming it has a better return than a typical savings account in the United States.
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Written By: Cointelegraph
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