Anchorage Digital Introduces Stablecoin Rewards for holders of PayPal USD

Today, Anchorage Digital, the trusted crypto platform for institutions, is pleased to announce its first stablecoin rewards program, enabling institutions to earn competitive rewards on PayPal USD (PYUSD) balances held at Anchorage Digital or in our 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

“Anchorage Digital and PayPal share a common vision of providing secure and efficient payment solutions for institutions that maximize the value of their digital assets and expand PYUSD’s utility and benefits for institutional customers.”

— Jose Fernandez da Ponte, Senior Vice President and General Manager of Blockchain, Crypto, and Digital Currencies at PayPal 

Receive rewards when you hold stablecoins with Anchorage Digital

Institutions can enroll with Anchorage Digital to enjoy benefits, including:

• Streamlined onboarding: No need for dual onboarding to multiple providers or issuers
• Integrated experience: Seamlessly hold PYUSD within the platform
• Secure custody: Safeguard assets in segregated, on-chain vaults from a proven security architecture when institutions custody with Anchorage Digital Bank or Anchorage Digital Singapore
• Rewards from self-custody: Easily earn rewards from Anchorage Digital for PYUSD held in a Porto institutional self-custody wallet, the first institutional self-custody wallet to offer users rewards
• Segregated accounts: Institutional assets are always held in separate, on-chain accounts
• 24/7/365 access and transparency: Stablecoins and rewards are kept on-chain for 24/7/365 access and full transparency
• Portability: Stablecoin assets remain transferable
• Choice: Diversify beyond traditional finance rails streamlined with Anchorage Digital infrastructure

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. 

Rewards vary, if you’d like to learn more, please reach out to us at stablecoinrewards@anchorage.com.

About PYUSD

PayPal USD is issued by Paxos Trust Company, LLC, a fully licensed limited purpose trust company subject to regulatory oversight by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal at a rate of $1.00 per PayPal USD.

Press Contacts

Anchorage Digital - press@anchorage.com

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This Stablecoin Rewards Program (the "Program") is offered by Anchorage Digital Neo, Ltd. Stablecoins must be held with custody or wallet platforms offered by Anchorage Digital Bank National Association, Anchorage Digital Singapore Pte, Ltd., or Anchorage Innovations, LLC, in order to be eligible for rewards. This program is not offered by any of the aforementioned custody or wallet service providers. Please refer to the Stablecoin Rewards Program Terms & Conditions for all applicable terms and risks. By participating in the Program, participants acknowledge that they have read, understood, and agreed to be bound by this disclaimer and any other terms and conditions governing the Program. Information in this document is for general educational purposes only and eligibility limitations apply. This document is not intended to constitute an offer, solicitation, recommendation, investment, or any other advice on financial products. Availability is subject to jurisdictional limitations.

The Program is not subject to regulatory oversight in the Cayman Islands or any other jurisdiction. Participants in the Program acknowledge and understand that the Program is not regulated by any governmental authority or regulatory body in the Cayman Islands or elsewhere. As such, there are no guarantees regarding the stability, security, or reliability of the Program. Participation in the Program carries inherent risks, including but not limited to the risk of loss of funds, lack of recourse in case of disputes, and potential volatility of a stablecoin's value. Participants are responsible for understanding and complying with all applicable laws, regulations, and requirements in their respective jurisdictions regarding the use, possession, and transfer of digital assets, including stablecoins. Nothing in the Program constitutes investment advice, financial advice, or any other form of professional advice. Participants should conduct their own research and seek appropriate professional advice before participating in the Program. Anchorage Digital Neo, Ltd. and its affiliates, officers, directors, employees, agents, and representatives shall not be liable for any losses, damages, liabilities, costs, or expenses arising out of or related to participation in the Program, regardless of the cause of action or legal theory asserted.