{"id":8951,"date":"2021-06-30T05:54:04","date_gmt":"2021-06-30T05:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/coinbase-launches-high-yield-usdc-accounts-with-4-apy\/"},"modified":"2021-06-30T05:54:04","modified_gmt":"2021-06-30T05:54:04","slug":"coinbase-launches-high-yield-usdc-accounts-with-4-apy","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/coinbase-launches-high-yield-usdc-accounts-with-4-apy\/","title":{"rendered":"Coinbase Launches High Yield USDC Accounts With 4% APY"},"content":{"rendered":"<p><strong>Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company\u2019s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. <\/strong><\/p>\n<h2>Coinbase Reveals USDC Savings Program With Interest Rates Eight-Times Higher the national average<\/h2>\n<p>The cryptocurrency exchange Coinbase <a href=\"https:\/\/blog.coinbase.com\/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb\">announced<\/a> pre-enrollment for its usd coin (USDC) savings program that allows clients to earn a 4% APY interest rate on USDC held on the platform.<\/p>\n<p>Coinbase joins firms like Blockfi and Crypto.com that already offer interest on USDC stablecoin holdings. Still, Coinbase highlights in its announcement on Tuesday, that 4% APY on USDC is \u201cmore than 8x the national average of high-yield savings accounts.\u201d<\/p>\n<p>\u201cEveryone wants to get the best interest rate available for the assets they hold,\u201d Coinbase explained in a statement. \u201cBut interest rates have decreased steadily over the past few decades, making it difficult to earn meaningful passive income on your assets,\u201d the company said. Coinbase added:<\/p>\n<p>The national average for a traditional savings account hovers around 0.07%, with high-yield savings accounts still falling well short of even 1%.<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<p>Coinbase\u2019s entry into the stablecoin savings products also follows <a href=\"https:\/\/news.bitcoin.com\/stablecoin-savings-circle-launches-high-yield-usdc-accounts-for-businesses\/\">Circle\u2019s USDC business product,<\/a> which was launched in November 2020. At the time, Circle revealed the launch of high-yield USDC business accounts with APY up to 10.75%. Additionally, Circle just <a href=\"https:\/\/www.circle.com\/blog\/bringing-institutional-defi-to-the-world\">announced<\/a> five days ago, it would be launching a new API so companies can connect to high-yield decentralized finance (defi) platforms.<\/p>\n<p>Coinbase and Circle are the founding members of the <a href=\"https:\/\/www.centre.io\/\">Centre consortium<\/a> and with a number of other consortium members, Centre is the issuer and custodian of the usd coin (USDC) project.<\/p>\n<p>In order to get more information on Coinbase\u2019s USDC pre-enrollment, U.S. customers can sign up at the web portal <a href=\"https:\/\/www.coinbase.com\/lend\">coinbase.com\/lend<\/a>. After an individual gains approval, they will \u201cautomatically start to earn 4% APY on the USDC\u201d they hold in their Coinbase account. The company does detail that \u201cAPY may change at any time before you start lending.\u201d<\/p>\n<p><em><strong>What do you think about Coinbase offering 4% APY on USDC holdings? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nNews, 4% APY, centre, Centre Consortium, Circle, Coinbase, High Yield APY, High Yield Returns, lend, National Average, Savings, Savings Account, Savings Program, Stablecoin, Traditional banking, usd coin, USDC, USDC Savings<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company\u2019s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. Coinbase Reveals USDC Savings Program With Interest Rates Eight-Times Higher the national average The cryptocurrency exchange&hellip;<\/p>\n","protected":false},"author":0,"featured_media":8952,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8951"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8951"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8952"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}