Coinbase now offers interest to people holding USDC on its exchange

Starting today, Coinbase users will earn interest for every USDC they hold on the Coinbase exchange, the company announced Wednesday. 

USDC is a special kind of cryptocurrency called a stablecoin, whose value is pegged to the U.S. dollar. USDC are backed by actual dollars and redeemable for USD at a 1:1 ratio. 

Yearly yield or APY for USDC held on Coinbase will be 1.25 percent, which is not a huge number but is comparable with the rate you can get for actual fiat dollars kept at the bank. There are also no limits or fees of any kind imposed on users; the USDC funds accrue in real time and are at the users' disposal at all times, Coinbase says.  Read more...