Coinbase Offers 1.25% Interest On USDC Holdings for Stablecoin Users
You do not need to be a trader to profit from Coinbase anymore. The crypto exchange has started a new program for its customers recently. Now they can earn 1.25% interest yearly for holding the official stablecoin of the exchange: USDC.
According to Paul Katsen, product manager at Coinbase, the company is currently trying to create more ways in which people can grow their wealth by using the company. Coinbase knows how bad the need to move money back and forth via different accounts is, so they want to give some benefits for the people who choose to hold tokens in their wallets.
If the user has at least one dollar of USDC in the account, the rewards are automatically enabled. Max Branzburg, the director of product of the company, affirmed that the whole experience was created to be as smooth as possible. People will be able to see their rewards in real-time whenever they want to.
He also affirmed that this is least 15 times more than people will get if they let their savings rest in traditional saving accounts in the U. S. According to him, one of the main advantages of using the USDC Rewards program is that the person does not need to actually move the money since the program is automatic.
Now, Coinbase and Circle, which launched the token in a joint effort, are expecting to see more people using their stablecoin to recieve the rewards. If the program is successful, other ones can be started in the future.