PayPal Unveils 3.7% Annual Yield on PYUSD Stablecoins

PayPal is offering a 3.7% annual interest rate on its USD-backed stablecoin, PYUSD, for US users starting this summer. This move positions PYUSD as a contender in the financial technology sector. The initiative, spearheaded by PayPal’s blockchain and digital currencies SVP, Jose Fernandez da Ponte, aims to drive wider adoption of stablecoins for everyday transactions. While early reactions are limited, increased regulatory scrutiny is expected.