PayPal announces a new loyalty program in this summer today, allows users to win award in PayPal USD (PYUSD) holdings. The company will offer a 3.7% annual prize rate in PYUSD for balances in Paypal or Venmo wallets.
The initiative notes that Paypal has made an effort to expand the benefits of US dollar support stablecoin. After starting, users will be able to shop with PayPal checks, send funds to other PayPal or venmo users, convert funds for fiat or other cryptos and use international money transfers without operation fee.
“We believe that the future of trade in Stablecoins, the future of the next generations will be the power to change the next generations. “Consumers and enterprises show our commitment to innovative, trade ready-made ecosystems today for trade, crypto, peers transfers, crypto, peers transfers and B2B payments and future payments and future payments.”
Rewards structure and accessibility
Within the new program, users will reward the daily 3.7% of the daily expected annual expected annual and transferred monthly payments and transfer to the center of the user’s cryptist. The program will be optional to participate and users can access or exit anytime.
PYUSD can be used immediately for various use, including purchases, transfers or exchange within Paypal and Venmo ecosystems. According to the announcement, PYUSD is ready to trade, which allows users to purchase, send and spend both local and international levels.
Compatibility and conditions
PayPal noted that although the program is widely available for US users, the awards may not be available to users who have started in New York province. In addition, only Venmo has the right to participate in the consumer accounts award program; Venmo teen accounts and business profile users will not be appropriate.
The company is expected to start the rate of 3.7%, but not guaranteed. “The proportion of PYUSD prizes will always be determined at the sole request of PayPal and is not guaranteed. PayPal reserves the right to change the speed of PYUSD.”
PYUSD Awards program is planned to be broadcast live in the summer of 2025 and will be subject to the conditions and conditions available after the use.