USDC Holders Can Earn 4% APY on Coinbase By CoinQuora

June 30, 2021 John Coinbase 0

USDC Holders Can Earn 4% APY on Coinbase

  • Coinbase offers 4% earning via annual percentage yield for USDC holders.
  • Only holders willing to lend their assets are eligible for this offering.
  • The platform is aiming to target banks with this latest offer.

Coinbase says that USD Coin (USDC) holders on the platform can begin to earn a 4% annual percentage yield (APY). The users can earn so upon lending out their USDC holdings.

The platform made the announcement on a blog post. This way of earning interest proves as a good alternative to earning passive income. It is, in fact, similar to earning interest on a fiat savings bank account.

In detail, Coinbase is looking to target banks with this offer. Seeing as how it is similar to a fiat savings account. The platform is hoping to entice banks to run this possibly better savings offer. Specifically, this could even offer better returns when comparing to the average bank account earnings in the US.

Coinbase also remarks that the USDC available for le…

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