Coinbase raises USDC rewards to 4% amid SEC regulatory scrutiny
San Francisco-based crypto exchange Coinbase has raised its reward rates for USDC, a stablecoin tied to the US dollar. Users can now earn a 4% annual yield (APY) on their USDC holdings. The latest development marks a significant boost compared to the previous rate of 2%, which was in effect until June 9. By doubling the returns on USDC, Coinbase aims to incentivize more users to hold and utilize the stablecoin on its platform. Grow your savings with a reward ing, secure digital dollar. Global Coinbase customers can now earn 4% rewards on USDC. Start earning → https://t.co/JJw8HqWcJJ USDC is a trusted stablecoin that’s designed to be pegged and redeemable 1:1 for US Dollars. It’s backed by reserve… pic.twitter.com/IAGwDoCu4s — Coinbase ️ (@coinbase) June 15, 2023 While Coinbase has mentioned that the reward rates are subject to change, the most up-to-date rates can be found within customer accounts. Notably, the company has not yet incorporated the 4% reward rate on the late...