Crypto platform for institutions,  Anchorage Digital has recently announced its first stablecoin rewards program. It will enable institutions to earn competitive rewards on PayPal USD (PYUSD) balances held at Anchorage Digital or in its recently launched institutional self-custody wallet, Porto. 

PYUSD remains fully accessible and segregated in participants’ accounts on-chain for quick deployment leveraging Anchorage Digital’s industry-leading security model. Importantly, this program presents a way to earn rewards without rehypothecation, staking, or lending involved.

“Crypto innovators want to put their treasury cash to work but cannot compromise on asset security or accessibility. That’s why Anchorage Digital is proud to work with PayPal, a publicly-traded company with a proven track record in crypto innovation to launch Anchorage Digital’s stablecoin rewards program featuring PYUSD. Anchorage Digital looks forward to working with crypto innovators—including protocols, foundations, VCs, and startups—to unlock the next phase of growth by supporting access to our stablecoin rewards program.”

— Nathan McCauley, CEO and Co-Founder of Anchorage Digital

According to Anchorage Digital, institutions holding stablecoins with the company can access a range of benefits. These include streamlined onboarding without needing multiple providers, seamless integration for holding PayPal USD (PYUSD) within the platform, and secure custody of assets in segregated, on-chain vaults. 

ALSO READ: Orderly Network Raises $5M to Boost Web3 Liquidity Infrastructure

Anchorage Digital also offers rewards for PYUSD held in its Porto institutional self-custody wallet, the first of its kind to provide such rewards. Additionally, the company ensures that assets are kept in separate, on-chain accounts with 24/7/365 access and transparency, allowing for easy transferability and diversification beyond traditional financial systems.

Anchorage Digital’s rewards program is a major unlock for institutions often operating between various cryptocurrencies and using stablecoins. This program may be a good fit for any institution holding qualifying stablecoins, starting with PYUSD.