PayPal Offers 3.7% APY on PYUSD for Increased Adoption

To fuel its adoption within the US market, PayPal has introduced a 3.7% annual yield on its own USD-backed stablecoin, PYUSD. This move aims to incentivize users to make everyday transactions and transfers using PYUSD. Expanding PYUSD availability to the Solana blockchain promises faster and more cost-effective transactions, while this reward program seeks to position PYUSD as a competitive alternative to popular stablecoins like Tether.