Image by Ledger Insights

Yesterday custody and trading platform Anchorage Digital announced that holders of the PayPal USD (PYUSD) stablecoin can earn rewards. Anchorage Digital’s new rewards program targets institutions that keep their stablecoins in the Anchorage Porto self-custody wallet.

In a previous iteration of this article, we stated that by working with PayPal there was an implication that PayPal was paying for the rewards – not directly but indirectly. A spokesperson for Anchorage Digital objected to this, saying that it is Anchorage Digital paying for the rewards.

However, we’d note that the new rewards program is only for existing institutional clients looking to custody PYUSD, not other stablecoins (so far).

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