Coinbase cuts remuneration for storing USDC stablecoins by almost 90%
American cryptocurrency exchange Coinbase has reduced the payment of fees for storing USDC stablecoins by 88%. It is reported by Decrypt.
So far, Coinbase users have received 1.25% per annum; Since June 3, remuneration has decreased to 0.15%.
Coinbase did not name the reasons for this step, but it follows similar actions by large banks - Bank of America, HSBC, Chase, and Wells Fargo offer savings deposits with no minimum balance requirements at 0.01% per annum.
Last October, Coinbase began paying fees for storing USDC to US customers. Rewards were accrued daily and distributed monthly.
The stablecoin USDC is supported by CENTER, a consortium of Coinbase and Circle. This is the second-largest stablecoin in the market with a share of more than 7% (Tether dominates the market with a share of more than 85%).
American cryptocurrency exchange Coinbase has reduced the payment of fees for storing USDC stablecoins by 88%. It is reported by Decrypt.
So far, Coinbase users have received 1.25% per annum; Since June 3, remuneration has decreased to 0.15%.
Coinbase did not name the reasons for this step, but it follows similar actions by large banks - Bank of America, HSBC, Chase, and Wells Fargo offer savings deposits with no minimum balance requirements at 0.01% per annum.
Last October, Coinbase began paying fees for storing USDC to US customers. Rewards were accrued daily and distributed monthly.
The stablecoin USDC is supported by CENTER, a consortium of Coinbase and Circle. This is the second-largest stablecoin in the market with a share of more than 7% (Tether dominates the market with a share of more than 85%).