Coinbase exchange to offer 1.25% APY rewards on every USD Coin

Given the tough competition and a variety of similar offerings, crypto exchanges have shifted their business strategies to include customer-centric incentives. Although Binance has been leading this realm, Coinbase made headlines after announcing on Twitter,

“Starting today, eligible US customers will earn 1.25% APY rewards on every USD Coin held on Coinbase.”

Source: Coinbase

The launch of USDC Rewards will enable Coinbase’s U.S. eligible customers to earn 1.25% APY rewards on every USD Coin. The compnay attributed this move towards their goal to deliver more ways for anyone to legally and securely do more with their crypto, beyond trading. Adding further details, Coinbase’s official blog mentioned,

“The percentage rate of rewards is the same no matter your balance. The more USD Coins you hold, the more rewards you will automatically earn, all with no additional costs or fees. USD Coin rewards accrue daily, and customers will maintain complete control over their USD Coins at all times.”