Users to receive 3.7% annually in PayPal
USD (PYUSD) for holding the stablecoin on PayPal or
Venmo
SAN
JOSE, Calif., April 23,
2025 /PRNewswire/ -- PayPal Holdings, Inc.
(NASDAQ: PYPL) today introduced rewards for PYUSD1,
a new loyalty offering that will provide US users the ability to
earn 3.7%2 annually in rewards on holdings of PayPal USD
(PYUSD) in their PayPal or Venmo wallets. Available in Summer 2025,
PayPal and Venmo3 users will be able to earn rewards on
their PYUSD balances, which they can use to pay at millions of
merchants, send directly to PayPal and Venmo users, fund
remittances on Xoom without transaction fees, convert 1:1 to their
fiat balance, convert to other cryptocurrencies, and
send onchain to supported wallets on the Ethereum and
Solana blockchains.
"At PayPal, we believe stablecoins have the power to reshape the
future of commerce as the foundation for the next generation of
payments. Combining this innovative technology with our expansive
global network allows us to help all users thrive in the world
economy," said Alex Chriss,
President and CEO, PayPal. "Consumers and businesses use PYUSD
today for commerce, crypto, peer-to-peer transfers and
B2B payments. We're demonstrating our commitment to an innovative,
commerce-ready ecosystem by enabling it for the settlement of cross
border transfers, vendor payments and in the future for additional
payment use cases like payouts and bill pay."
Users will receive 3.7% annually2 in PYUSD on their
PYUSD holdings on PayPal or Venmo. Users can immediately use any
rewards received to send to other users, fund international
transfers, exchange for fiat, or make purchases at millions of
merchants with PayPal Checkout.
Highlights of the offering include:
- Commerce-Ready: All PYUSD – purchased and received - can
be used seamlessly to fund payments within the PayPal and Venmo
ecosystems. Consumers can buy, send, and spend PYUSD both
domestically and internationally – giving users additional
flexibility and choice in how they use it.
- Accrue Rewards Daily, Receive Rewards Monthly: 3.7%
annual rewards rate2, awarded out in PYUSD the following
month and added directly to the user's
Cryptocurrencies Hub.
Users can opt into or opt out of the program at any time and
redeem their PYUSD holdings for USD quickly and easily in their
PayPal or Venmo Cryptocurrencies Hub.
1 Rewards for PYUSD may not be available to
New York State-based users at
launch.
2 Anticipated rate upon program launch. The PYUSD
rewards rate will be determined at all times in PayPal's sole
discretion and is not guaranteed. PayPal reserves the right to
change the PYUSD rewards rate at any time. Program will be
subject to terms and conditions available upon launch.
3 Only Venmo consumer accounts are eligible to receive
rewards. Venmo Teen Accounts and Venmo Business Profile users are
not eligible to participate in the program.
About PayPal USD (PYUSD)
PayPal USD is issued by Paxos Trust Company, a fully chartered
limited purpose trust company. Paxos and its products – including
expansion to new blockchains – are licensed to engage in Virtual
Currency Business Activity 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 and Venmo at a rate of $1.00 per PayPal USD.
About PayPal
PayPal has been revolutionizing commerce globally for more than 25
years. Creating innovative experiences that make moving money,
selling, and shopping simple, personalized, and secure, PayPal
empowers consumers and businesses in approximately 200 markets to
join and thrive in the global economy. For more information, visit
https://www.paypal.com, https://about.pypl.com/ and
https://investor.pypl.com/.
PYUSD IS NOT INSURED BY THE FDIC, SIPC, OR ANY OTHER PUBLIC OR
PRIVATE INSURER, INCLUDING AGAINST CYBER THEFT OR THEFT BY OTHER
MEANS. PAYPAL IS A FINANCIAL TECHNOLOGY COMPANY AND NOT A
DEPOSITORY INSTITUTION. PYUSD, THE PYUSD REWARDS PROGRAM, AND YOUR
CRYPTOCURRENCIES HUBS ARE NOT BANK DEPOSITS OR OTHER
DEPOSIT ACCOUNTS. PAYPAL DOES NOT INTEND FOR PYUSD REWARDS TO
CONSTITUTE A SECURITIES OFFERING AND PARTICIPATION IN THE LOYALTY
PROGRAM IS NOT AN INVESTMENT IN A SECURITIES OFFERING.
PayPal, Inc. (NMLS ID #: 910457) is licensed to engage in
Virtual Currency Business Activity by the New York State Department of Financial
Services.
Contact: Media Relations, mediarelations@paypal.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/buy-hold-earn-rewards-paypal-unlocks-rewards-for-holding-paypal-usd-302435912.html
SOURCE PayPal Holdings, Inc.
