PayPal has announced a new rewards program for users holding PYUSD stablecoin, which is now available on various platforms including Arbitrum.
Availability of PYUSD on New Platforms
According to the latest update on PayPal's cryptocurrency terms, the PYUSD stablecoin is now available on the Arbitrum platform, as well as on Ethereum and Solana. These three networks are part of the list of supported blockchains for PYUSD.
PYUSD Rewards Program
For users holding at least 1 PYUSD, a rewards program is available. Participants can accumulate rewards in the form of PYUSD based on the amount they hold. Rewards will be accrued daily at a designated rate calculated based on the average stablecoin balance held throughout the month.
Eligibility Terms for Participation
To be eligible, users must have an active account in Cryptocurrencies Hub without a negative balance. Business account holders may also participate, provided their account does not have any negative balance or restrictions. However, PayPal retains the right to cease support for PYUSD at any time with prior notice.
The new PYUSD rewards program from PayPal offers interesting opportunities for users seeking passive income. However, it is crucial to consider the eligibility requirements and potential risks.
