Coinbase follows the DeFi trend as it started offering its users a 2% yield on their DAI holdings with zero-interest rates and the platform is now expected to get some additional retail attention so let’s see more in the upcoming Coinbase news.
For all customers in the UK, the US, Spain, France, Australia, Netherlands will get access to the product. The users will also get a reward with an APY much higher than the USDC rewards APY of 0.15%. The earning yields on stablecoins are much more attractive than keeping the money in the bank accounts and now with coinbase Earn, some users will be able to start earning for free. Coinbase follows the DeFi trends and it’s why it introduced a new investment product called “DAI Rewards” expanding the product options.
The product yields 2% APY For every user with at least 1 DAI as the rewards will be distributed daily after the first five days since the launch and will get increased flexibility. Coinbase is one of the biggest players within the blockchain and DeFi space but it’s arguably the most legally stable company that is focused on cryptocurrencies in the United States. The company aims to provide a 2% yield on a stablecoin that could get a lot of attention from retail customers as the traditional savings accounts are far less attractive with a 1.11% yield at best.
Notably, the new DAI offerings provide a bigger yield than the already existing USDC rewards but it is also more flexible in terms of rewards distribution frequency. The users who don’t have DAI to start earning can also use Coinbase earn to get DAI for learning about the token and answering questions. The offering is only available to Coinbase users while Coinbase Pro is not included.
Coinbase still hasn’t listed Monero’s XMR on its platform but the reasons are still not quite certain because of the ongoing chats with regulators that have the exchanges being extremely cautious about privacy. The Coinbase CEO explained on his podcast why Coinbase hasn’t listed Monero yet, mainly focusing on regulators and their discomfort with privacy coins as he said that a more conservative approach to listing something will be Binance or Kraken.
Now, it is still unclear if while Coinbase is preparing for stock market listing, it will opt for an initial public offering (IPO) as a way to accompany its public trading. Raising additional capital is often associated with the listing, which means that the shares of the company could be made available for trading with no additional funding.
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