PayPal’s Stablecoin Drama: Get 3.7% Yield or Just Sit There and Pretend to Understand Crypto

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So, big news from the payment overlords at PayPal: they’re about to start giving you *interest* on their very own stablecoin, because apparently, handing you money for doing nothing is the best way to get you hooked.

Bloomberg whispers that PayPal’s dazzling plan is to toss rewards at users of their shiny new stablecoin, PayPal USD (PYUSD), sort of like a sugar rush to keep you glued to their crypto playground.

Word on the street is this magic will kick off sometime this summer — because who really needs exact dates nowadays? Both PayPal and Venmo users can supposedly snag a cool 3.7% annual yield just for letting their PYUSD chill in their crypto wallets. Not too shabby, right? 🎉

And yes, the daily accruing rewards (paid out monthly, because patience is a virtue) come as PYUSD too — which you can turn back into boring old dollars, buy stuff with, or annoy your friends by sending them digital coins that *sort of* mean money.

According to Jose Fernandez da Ponte — official blockchain wizard and crypto czar at PayPal — the grand vision here is that they want stablecoins to be the next big thing in online payments. His words: “We see stablecoins as building the next generation of payment rails but we are aware that is something that takes time. We are halfway [through] a 10-year journey.” Translation: hang tight for a decade and maybe stablecoins will actually matter.

For those keeping score, PYUSD debuted in 2023 thanks to a sassy little collab with Paxos, the folks who claim the token’s cash stash is 100% backed by US dollar deposits — so yeah, supposedly you can swap your PYUSD for real dollars 1:1, no stunts.

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2025-04-24 01:01