fbpx

Coinbase Paying Interest for USDC Holders!  Coinbase paying interest for holders of the popular stablecoin USDC.  The interest rate will be 1.25%.

In a blog post posted today, Coinbase said that eligible US customers will begin earning 1.25% on their USDC holdings – earnings will be distributed on a monthly basis.  This product will not be available for customers in New York State.

Coinbase has described USDC as a stablecoin that offers price stability via being backed by a reserve asset.  USDC was created by CENTRE, a consortium co-founded by Coinbase.  Since August of this year, over 1 billion USDC tokens have been issued.

According to the blog post, Coinbase customers will be able to earn a return on their USDC holdings without doing any transactions – including selling or doing anything else with cryptocurrency.  Coinbase has acknowledged that the USDC is not legal tender but is a form of digital currency.

For your sake, it’s important to note that USDC holdings are not protected by Federal Deposit Insurance Corporation (FDIC) or Securities Investor Protection Corporation (SIPC).

What do you think?  Let us know on our Facebook page!

IF YOU DO NOT AGREE WITH ANY TERM OR PROVISION OF OUR TERMS AND CONDITIONS, PLEASE EXIT THE SITE IMMEDIATELY. PLEASE BE ADVISED THAT YOUR CONTINUED USE OF THIS SITE OR THE PRODUCTS OR INFORMATION PROVIDED THEREBY SHALL INDICATE YOUR CONSENT AND AGREEMENT TO THESE TERMS AND CONDITIONS.

Crypto Traders Pro may express or utilize testimonials or descriptions of past performance, but such items are not indicative of future results or performance, or any representation, warranty or guarantee that any result will be obtained by you. These results and performances are NOT TYPICAL, and you should not expect to achieve the same or similar results or performance. Your results may differ materially from those expressed or utilized by Crypto Traders Pro due to many factors.