Wednesday, February 19, 2025

Coinbase Wallet Introduces 4.7% APY USDC Rewards for Global Users

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KEY TAKEAWAYS

  • Coinbase Wallet introduces USDC Rewards, offering a 4.7% APY on USDC holdings without complex requirements.
  • Users can earn monthly rewards on USDC while maintaining liquidity and accessibility, with no lock-up required.
  • The feature supports multiple blockchain networks, including Base, Ethereum, Arbitrum, Avalanche, Polygon, and Optimism.
  • USDC Rewards aim to enhance the global onchain economy by making stablecoins more rewarding and accessible.

Coinbase Wallet has announced a new feature allowing users to earn 4.7% annual percentage yield (APY) on USDC holdings. This initiative, known as USDC Rewards, is designed to provide an easy and accessible way for users to earn rewards on their USDC without any complex requirements. The feature is available to users in most regions worldwide, with a rollout to U.S. users expected this week.

USDC, a stablecoin pegged to the U.S. dollar, offers the stability of traditional currency combined with the speed and efficiency of blockchain technology. Users can hold USDC in their Coinbase Wallet and earn monthly rewards, keeping their funds liquid and accessible at all times. The rewards are distributed directly to the user’s wallet on the Base network.

High Rewards Without Lock-Up

The 4.7% APY offered by Coinbase Wallet does not require users to lock up their funds, allowing for flexibility and ease of access. This feature is part of Coinbase’s broader strategy to enhance the global onchain economy by making stablecoins more rewarding and accessible. Users can grow their USDC holdings without intermediaries or high fees, with rewards paid out monthly.

In addition to earning rewards, Coinbase Wallet users can send USDC globally with zero fees. This feature enables instant and cost-effective transactions, making it a convenient option for sending money worldwide at any time.

Activation and Availability

To activate USDC rewards, eligible users need to fund their Coinbase Wallet with USDC and enable the rewards on the USDC asset page. The rewards are available for balances held on several blockchain networks, including Base, Ethereum, Arbitrum, Avalanche C-Chain, Polygon, and Optimism. The feature is not currently available in the European Union or Canada but will be widely accessible in the U.S. in the coming weeks.

Coinbase has clarified that the rewards program is not intended to be a securities offering, and the rate may vary by region. Users can check the latest applicable rates within their wallets. For more information, visit the official announcement here.


Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
Neel Kapoor
Neel Kapoor
Neel Kapoor is a dedicated cryptocurrency enthusiast and blockchain expert at Coinsholder.com. With over a decade of experience, Neel offers insightful analysis and commentary on the latest trends and innovations in the crypto space. His clear and concise writing makes complex topics accessible to all readers.

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