Marco Verch / Flickr

San Francisco-based Coinbase announced Wednesday that US investors can now earn 1.25% APY for holding USD Coin (USDC) on Coinbase.

According to the announcement, the new program enables monthly passive income without having to lend out your holdings. All earnings are accrued daily and investors can easily move their USDC out of the wallet without any lockup period.

The Coinbase team added, “Eligible customers will begin earning rewards on any USD Coins they currently hold on Coinbase, with rewards being distributed on a monthly basis.”

This news comes the same week that Coinbase joined forces with other leaders in the crypto industry to form Crypto Rating Council, a member-operated organization formed to help market participants that trade or support digital assets comply with U.S. federal securities laws.

More: Start earning crypto rewards on Coinbase today
Related: Coinbase and Other Industry Leaders Form Council to Rate Cryptocurrencies
Image: Marco Verch / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.



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